Crypto Market Faces Crucial Test Ahead of FOMC Meeting

The crypto market has been experiencing a surge in gains recently, with Bitcoin rising by 14% from its recent low. This uptrend has also been accompanied by an increase in bullish ETF flows. However, this momentum is being put to the test as global tensions rise and oil prices increase.

Escalating conflicts in the Middle East have contributed to a surge in oil prices, which could potentially impact the crypto market's current trend. The upcoming FOMC meeting will be crucial in determining whether the current bullish sentiment can continue or if it will face a significant reversal.