Bitcoin consolidates and Uniswap rallies as Fed interest rate decision expected today
BITCOIN posted both a low and high above $100,000 yesterday, signalling consolidation alongside many other large-cap cryptocurrencies, which are either moving sideways or edging slightly into the negative this morning.
This follows yesterday’s breakout, where several cryptocurrencies posted gains of 8% or more. Uniswap (UNI) has extended this trend, delivering an 8% gain over 24 hours, one of the few coins on Luno to do so.
The big news today is the Fed’s interest rate decision, expected at 19:00 GMT. Most analysts and investors anticipate the US central bank will pause rates.
Despite the expected outcome, the real focus will be on Fed Chair Jerome Powell’s press conference, where investors will be watching for any mention of Trump’s policies and the current inflation landscape in the US.
The question now is whether markets have already priced in the rate decision.
In the markets
🌦️The Data
Total crypto market cap
$3.47 trillion (-1.68%)
What Bitcoin did yesterday
Daily high $103,541 | Daily low $100,272
Bitcoin market capitalisation
$2.03 trillion (-0.11%)
Bitcoin 24-hour trading volume
$42.54 billion (-39.08%)
SP500
+0.92
Fear and Greed Index
The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.
Bitcoin Relative Strength Index (RSI) (14)
58.79
Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.
Post Script…
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
