Calm Before the Storm? BTC Stable at $102K Ahead of FOMC Meeting

View in browser Calm Before the Storm? BTC Stable at $102K Ahead of FOMC Meeting Hey, everyone, and happy Wednesday! The market has remained relatively calm in the past 24 hours as it is waiting for the decision of the US Federal Reserve from later today.  As a reminder, the first FOMC meeting for 2025 will be held in a few hours, which is where the institution will decide if it will be changing the interest rates. Currently, the expectation is that it won't. That said, any deviation from the expected outcome will likely cause considerable volatility, so remain alert and stay off leverage! Price Action Total Mkt Cap: $3.58 Trillion | 24HR Liquidations: $300M | Sentiment: Greed  Thanking our Newsletter sponsor: Credefi: the ultimate RWA gateway. Connecting crypto lenders with SME borrowers since 2021. Discover predictable yields on your idle crypto assets. Bitcoin After the massive volatility endured last Monday, when BTC's price went on several fluctuations that drove it to under $100,000 before it charted a new all-time high above $109,000, the asset calmed by the rest of the week and stood primarily around $104,000. The weekend was also quite uneventful, unlike the previous one. In fact, bitcoin increased slightly and tapped $105,000 by Sunday evening. However, Monday began on a highly negative note, with the bears propelling a substantial leg down that pushed the cryptocurrency under $100,000. Moreover, the asset kept crashing and slipped to a multi-day low of $97,800. After another unsuccessful recovery attempt, the bulls finally stepped up in the evening and pushed bitcoin back to over $100,000. Since then, the asset neared $104,000 yesterday but was stopped and driven to $100,000 once again. As of now, it remains above $102,000, but more volatility is expected today after the conclusion of the Fed's first meeting for the year. Bitcoin's market cap now stands above $2.020 trillion, while its dominance over the alts is north of 56% again on CG. Altcoins The altcoins charted some impressive gains yesterday, but the landscape is different today. Ethereum was stopped at $3,200 and now sits closer to $3,100 after a 2% daily decline. XRP is below $3.1 again after a minor daily correction. More painful declines come from the likes of DOGE, SOL, ADA, LINK, AVAX, XLM and others. In contrast, WIF has skyrocketed by 15% over the past 24 hours and sits above $1.3. Next in line in terms of daily gains are MOVE (12%) and TAO (11%). The total crypto market cap has lost over $50 billion in a day and is down to $3.6 trillion on CG. Best Performers Dogwifhat (WIF) +8.9% Uniswap (UNI) +6.9% Bittensor (TAO) +6.3% Worst Performers Jupiter (JUP) -10.5% XDC Network (XDC) -10% Raydium (RAY) -9.8% The Crypto News You Can't Miss Bitcoin whales, mainly U.S. institutions, have begun to accumulate again while new whales are expanding. These are considered bullish signals for BTC. Read the full story. Chainalysis reported that pump-and-dump schemes and dormant tokens are major issues in the DEX ecosystem. Read the full story. Altcoins have continued to sell off this week and Ethereum price anguish is rising, but Bitcoin has remained in six-figure territory.  Read the full story. Elon Musk's microblogging platform X has entered into a partnership with credit card giant Visa to power its soon-to-be-launched digital wallet and app. Read the full story. Your Daily Crypto Did You Know Did you know that Vitalik Buterin chose the name "Ethereum" from a list of elements from science fiction, believing it sounded futuristic? CryptoPotato 39 Ludgate Hill, London United Kingdom You received this email because you signed up on our website or made purchase from us. Unsubscribe