The upcoming week holds significant developments for global markets as the Federal Reserve is expected to announce its interest rate decision. On August 1st, several tariffs that had been previously postponed will be implemented unless another delay occurs. These impending events carry weighty implications for global economies, with analysts closely monitoring market reactions. Notably, Michael van de Poppe has shared updated projections for Ethereum 
$2,399, offering crucial insights into the short-term future of altcoins.
Anticipated Crypto Market Movements on August 1st
The Federal Reserve is slated to keep interest rates steady, barring any major surprises. Concurrently, tariffs, as announced by former President Trump for many nations, will come into effect, mirroring high rates set on April 2nd. With only seven days for over 150 countries to reach collective agreements, it appears unlikely, especially as an agreement with the European Union is still pending.
As August 1st draws near, the market is anticipated to face the following scenarios:
- The April 2nd tariff rates are expected to be largely enforced on August 1st.
- Implementation of these tariffs, post-high inflation data, is likely to heighten inflationary pressure.
- The Fed is expected to highlight tariffs’ adverse effects on inflation projections.
- If tariffs are high, it might signal no interest rate cuts in September.
- While inflation rises and tariffs fuel uncertainty, the Fed might opt to “wait and see,” much to the dismay of Trump, although most Fed members, excluding Powell, agree with this stance.
- Risk markets might diverge negatively due to worries about delayed rate cuts and tariff-driven inflation increases.
Insights on Ethereum and Altcoins
In today’s analysis, Michael van de Poppe focused on the Ethereum chart. Following a rally to $1,200, a bearish trend is emerging, with concerns over the risk of lower peaks. This situation poses a threat to the larger altcoin market.
“Following the $1,200 rally, ETH exhibits a bearish trend, forming a lower peak.
For an upward move, a break of $3,800 is needed; otherwise, ETH could fall to $3,400.”
At the time of writing, ETH has dipped to around $3,550, finding buyers at $3,605.
Highlighting a crucial level for Solana 
$88 (SOL), Ali Martinez emphasizes the need to maintain the $189 level. After reaching the anticipated peak of $203, SOL has retreated to $190. Continued selling may prompt close monitoring of supports at $189 and $177.
