CRYPTOCURRENCIES appear to be seeing a renewed ripple of optimism this morning, with most major tokens trading higher over the past 24 hours.

Fantom (FTM) and XRP are leading the gains, while Bitcoin (BTC) and Ethereum (ETH) have posted modest advances at the top of the market cap rankings.

Technical indicators also point to improving sentiment. The Relative Strength Index, a key momentum gauge, has edged higher, while the Crypto Fear & Greed Index has moved into 'neutral' territory, suggesting a more balanced investor outlook.

Meanwhile, the Federal Reserve released minutes from its January meeting yesterday, offering a cautious assessment of the inflation outlook. Officials cited potential headwinds to disinflation, noting that "business contacts in a number of (Fed) districts had indicated that firms would attempt to pass on to consumers higher input costs arising from potential tariffs".

Atlanta Fed President Raphael Bostic, speaking to Yahoo Finance, acknowledged that recent economic shifts have introduced more uncertainty.

“I had an outlook that 2025 would proceed at a very positive level - solid growth, inflation continuing to move to 2%, and labour markets staying solid,” Bostic said.

“Now, all this potential change means that the confidence bands, the precision of that estimate has reduced somewhat, and we'll just have to see how things play out.”

While most economists remain sceptical about imminent rate cuts, markets appear largely unfazed by the Fed’s cautious tone this morning. Whether this measured reaction extends to crypto and equity markets over the longer term remains to be seen. 

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In the markets 

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🌦️The Data...

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🌍 Total crypto market cap ⬆️

The global cryptocurrency market capitalisation is currently approximately $3.17 trillion, showing a 1.83% increase over the past 24 hours.

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🟠 Bitcoin (BTC) ⬆️

• Price: Currently trading at $96,826, reflecting a 1.19% increase in the last 24 hours.
• Daily high: $97,326
• Daily low: $95,590
• Market cap: Approximately $1.19 trillion
• 24-hour trading volume: Approximately $28 billion

💎 Ethereum (ETH) ⬆️

• Price: Currently trading at $2,734, reflecting a 0.91% increase in the last 24 hours.
• Daily high: $2,753
• Daily low: $2,686
• Market cap: Approximately $329 billion
• 24-hour trading volume: Approximately $15.13 billion

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📈 S&P 500

The S&P 500 index is currently up by 0.24% from the previous close.

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😬 Fear & Greed Index

The Crypto Fear & Greed Index is currently at 37, signaling Fear among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 57, indicating that the asset is neither overbought nor oversold at this time.

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Data is accurate as of 08:07 GMT.

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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.