Markets edge higher while investors watch for quantitative easing signals from Fed

CRYPTOCURRENCY markets are edging higher today after a period of sideways movement, signalling further consolidation following weeks of volatility.

Bitcoin (BTC) is trading at approximately $83,440, while Ethereum (ETH) remains just under $2,000. Several altcoins are also in the green over the past seven days, suggesting a potential shift in sentiment.

Despite these gains, trading volumes remain low, indicating that investors remain cautious after the turbulence of the past month.

Market participants are now looking ahead to today’s Federal Reserve interest rate decision.

While the Fed is widely expected to hold rates steady, investors will closely analyse Chair Jerome Powell’s comments for any hints on the timing of potential rate cuts and whether the central bank plans to end quantitative tightening.

A shift in policy could inject fresh momentum into risk assets, including crypto and equities, and markets will be watching closely to see how Powell's remarks influence sentiment going forward.

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In the markets 

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🌍 Total crypto market cap ⬆️

• The global cryptocurrency market capitalisation is approximately $2.73 trillion, reflecting a 0.37% increase over the last day.
  
  

🟠 Bitcoin (BTC) ⬆️

• Price: Currently trading at $83,402.26, marking a 0.29% increase in the last 24 hours.
• Daily high: $83,358
• Daily low: $81,207
  
  

💎 Ethereum (ETH) ⬆️

• Price: Currently trading at $1,937.33, reflecting a 1.73% increase in the last 24 hours.
• Daily High: $1,945
• Daily Low: $1,874

📈 S&P 500 ⬇️

• The S&P 500 index is currently down by 1.07% from the previous close, standing at 5,614.66.

😬 Fear & Greed Index

• The Crypto Fear & Greed Index is currently at 23, indicating a state of Fear among investors.

📊 Bitcoin Relative Strength Index (RSI) (14)

• The 14-day RSI for Bitcoin is at 47, suggesting that the asset is neither overbought or oversold.

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‍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.