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Bitcoin, Ethereum, XRP Remain Muted As Dogecoin Drops Ahead Of FOMC Meeting

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Bitcoin, Ethereum, XRP Remain Muted As Dogecoin Drops Ahead Of FOMC Meeting

Cryptocurrency markets are trading sideways one day ahead of the Federal Reserve’s decision on interest rates.


Cryptocurrency Ticker Price
Bitcoin (CRYPTO: BTC) $117,766.69
Ethereum (CRYPTO: ETH) $3,772.28
Solana (CRYPTO: SOL) $181.58
XRP (CRYPTO: XRP) $3.14
Dogecoin (CRYPTO: DOGE) $181.58
Shiba Inu (CRYPTO: SHIB) $0.00001313

Notable Statistics:

  • IntoTheBlock data shows Bitcoin's large transaction and daily active addresses increased by 39.4% and 62.7%, respectively. Exchanges netflows narrowed by 362.8%.
  • Coinglass data shows 165,599 traders were liquidated in the past 24 hours for $448.33 million. 

Notable Developments:

Trader Notes: Bitcoin Therapist outlined two key scenarios for Bitcoin:

  • Gradual Climb: Bitcoin slowly trends higher with small pullbacks, ultimately reaching $180,000–$200,000.
  • Violent Repricing: A sudden breakout as 18 months of paper BTC accumulation resolves, sending prices soaring to $350,000–$400,000.

Roman, however, urged caution.

He noted that while Bitcoin often consolidates before continuing upward, current weekly timeframe signals tell a different story. A pullback as the more likely near-term outcome, bearish divergences and overly bullish sentiment

Kevin echoed that caution, emphasizing this is a pivotal macro week with the FOMC and key economic data on deck.

He warned that Total2, the altcoin market cap, is at significant resistance and Bitcoin is pressing against the $120,000–$123,000 resistance while remaining below the weekly RSI downtrend.


Crypto Lord added that Bitcoin's tight consolidation just beneath all-time high after a powerful impulse suggests the top may be close. He advises traders to stay sharp, as upside could be limited before a possible reversal or major correction.


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Image: Shutterstock

 

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Posted-In: Cryptocurrency News

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