A two-day meeting by the FED led to a decision that might have a major impact on the global economy, as well as the financial markets, of which the cryptocurrency market was no exception.

The Federal Reserve, central bank of the United States, announced last Wednesday, after an exhaustive two-day meeting, that they will begin to cut the monthly purchase of bonds, continuing until the beginning of 2022. However , their opinion that high inflationary levels will be temporary remains, so a rapid rise in interest rates is not going to happen at least in the short term (they would remain between 0% -0.25%). After said event, a quite interesting rebound was generated in the cryptocurrency market, after a strong bearish move in the first minutes of the speech of the president of the FED, Jerome Powell. Later in the past few days we have witnessed a bullish  market for most cryptocurrencies, so November appears to be an amazing month for crypto markets. Watch out everyone! Last week there was an obvious scam in the world of cryptocurrencies, and that is that a token called SQUID was launched, inspired by the famous Netflix series “The Squid Game”, which generated a lot of interest in speculative investors, and It was bought despite being over 2 million dollars and having a rather suspicious website. Soon after, its value plummeted, leading to scammers taking close to $ 3.38 million. Red light! In other news, Solana, one of the cryptocurrencies with the highest growth in recent months, has managed to consolidate itself in the fourth place of the top cryptocurrencies in terms of greater market capitalization, after reaching an increase of almost 30% in the last week, surpassing Cardano (ADA), after ADA appeared to enter a price consolidation stage. Bitcoin is currently above $ 66,000 very close to it’s all-time high, so it will be necessary to see if the bullish force of the market helps to break that level. Also, we have interesting support above $ 63,000. For its part, Solana is generating a correction after a very interesting rally, trading close to $ 248. We can observe an interesting support level near $ 232, so we could expect it to return to that support level to continue its bullish move. However, Solana’s strength has shown us that sometimes there is no time for corrections. Very interesting days are coming in which we could see important growths, all-time highs and coins that arise due to valuable projects. Also remember to be aware of the economic outlook, since a new year is coming and many things could change. Without further ado, we wish you an amazing week.