The cryptocurrency market has stagnated this week, after various events that have generated uncertainty among investors. Complicated situation with divided emotions, a mixture of optimism and fear, what will happen in the short term?

Cryptocurrencies have had a fairly flat week with sentiment slightly more positive than negative, after the Federal Reserve announced that they will not raise interest rates at least until March. The reference interest rate remained in the range of 0 and 0.25%, which would be beneficial for the cryptocurrency market, which seems to be in a decisive zone whose breakdown could determine its future in the short term. However, due to high levels of inflation and a solid labor market, it is expected that in March everything will change and the Federal Reserve will begin to raise rates, so it is speculated that February will be a fairly calm month for the market in which investors will be with the expectation of what happens later. On the other hand, the International Monetary Fund (IMF) has sent a message to the president of El Salvador, Nayib Bukele, again requesting that he eliminate Bitcoin as legal tender in the country, since they consider that including the cryptocurrency within the country’s financial system can be very dangerous for its economic stability. However, Bukele has reiterated his confidence in the project he has with the world’s largest digital asset as the main attraction for investors around the world, for which he proceeded to respond ironically with a meme. On the other side of the world, after a lot of fear and uncertainty will be generated regarding a possible ban by the Russian government towards cryptocurrencies, their use and mining, President Vladimir Putin has come out to speak about a possible regulation of the same. In addition, he stressed that the Russian country has competitive advantages to be able to carry out mining processes. What a breather for the crypto asset market! Let’s now go to the metaverse, since it has been announced that Warner Music Group has reached an agreement with the virtual platform The Sandbox, in which they will develop a virtual theme park. This will also hold important events such as large concerts organized by the production companies owned by the company. Bitcoin is near $37,700 near a trend line that has marked the drop from its all-time highs, so we could see a rally to $40,000 in a zone that would determine its short-term future. BTC/USDT 1D (TradingVIew Chart). Ethereum is above $2,600, behaving very similarly to Bitcoin, so we could see it go as high as $2,800 at least. ETH/USDT 1D (TradingVIew Chart). Although this month looks to be quite calm due to the uncertainty that exists among investors regarding the next decisions by the Federal Reserve, any news or event could be unleashed in the coming days, which could catapult or strongly shake the the crypto assets. Without more to add, we wish you an amazing week.