Cosmos Is Waiting for Monetary Easing
Cosmos (ATOM) is down 1.0% to $4.095 this week, nearly matching Bitcoin’s (BTC) performance, as the leading cryptocurrency slipped 0.8% to $121,651. Market sentiment remains cautious after Fed Chair Jerome Powell skipped his scheduled public appearance on Thursday. He is expected to speak next Tuesday, just before the release of September inflation data.
If Powell adopts a softer tone and inflation shows signs of easing, Bitcoin could resume its rally toward the next resistance zone at $127,000–$130,000. Such a move would likely lift altcoins as well, offering ATOM a chance to break out of its prolonged trading range between $3.500 and $5.000. A confirmed breakout would open the path toward the next resistance near $7.500.
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