"Don't be too happy, digital assets actually have many obstacles."
Since last week, the entire cryptocurrency market has seen significant volatility as there have been several macroeconomic events that have pushed digital asset prices to react.
The evidence is that the uncertainty of the crypto market has been triggered when concerns about the United States (US) government shutdown are becoming more prevalent, but it should be known that the event can have a positive impact on digital assets.
The recent statement from the Federal Reserve (Fed) regarding the increase in interest rates by the end of 2023 also caused the crypto market including Bitcoin (BTC) to be in an uncertain momentum.
On October 6, 2023, the price of BTC managed to reach $28,200 from $27,171 as the US employment data for September showed that the labor market remained strong despite the Fed's hawkish stance.
Like to be informed that investors and traders are currently impatiently waiting for the news about the approval of spot BTC ETF as it is not only able to boost the price of digital assets but also attract various institutions to join it.
There is no denying that BTC and some other altcoins have shown positive reactions, but external economic factors, regulations or other major events can change the crypto market landscape overnight.
As of this writing, BTC price has plunged by 0.44% to $27,846 in the last 24 hours with a market cap of $543 billion and has recorded a 0.11% decline over the past week.
While Ethereum (ETH) slipped around 0.67% at $1,625 in the last 24 hours and Ripple (XRP) plunged 1.10% at $0.51.
