Bitcoin Price and Ethereum Prediction: Are BTC and ETH Poised for a Surge Ahead of FOMC Minutes Tomorrow?

cryptonews.com:

Bitcoin and Ethereum are two of the most widely traded cryptocurrencies in the market, with both having experienced a lack of volatility over the past few days. As investors and traders eagerly await the Federal Open Market Committee's (FOMC) minutes scheduled to be released tomorrow, the question on everyone's mind is whether BTC and ETH are poised for a surge.

Bitcoin (BTC), the world's largest cryptocurrency, has continued to rise and has gained some traction above the $25K mark. Meanwhile, the second most popular cryptocurrency, Ethereum (ETH), has surpassed $1,700 for the first time since September 2022.

Bitcoin has risen 14 percent in the last seven days, indicating rapid growth. Other well-known cryptocurrencies, such as Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP), also saw marginal increases. 

The total market capitalization of all cryptocurrencies was $1.13 trillion, representing a 1.67 percent increase in a 24-hour period.

However, the reason for its upward rally could be linked to improved macroeconomic conditions and investors' renewed market optimism. Furthermore, the Hong Kong Securities and Futures Commission (SFC) has recommended new laws for cryptocurrency trading platforms in order to increase investor safety. This was regarded as yet another important factor influencing Bitcoin values.

 The US dollar, which had been on an upward trend due to strong labor market statistics and persistent inflation, lost some of its momentum as traders awaited economic data to determine whether it was still justifiable to push the dollar higher. Despite having risen for three consecutive weeks, with a gain of about 1.7% in February, the US dollar index has now settled around 104, after reaching a six-week