Sideways movement ahead of tomorrow's Fed meeting

BITCOIN (BTC) and Ethereum (ETH) continue to consolidate, showing little movement since the start of the week.

While altcoins have seen slightly more activity, overall volatility has eased compared to previous weeks. The broader market remains cautious, with the Fear and Greed Index still in "Fear" territory, though sentiment has improved marginally.

Despite prices stabilising somewhat, crypto ETF outflows have continued, signaling that institutional demand remains weak. This comes as investors navigate broader macroeconomic uncertainty.

All eyes are now on the Fed’s interest rate decision tomorrow. The consensus among analysts is that the central bank will maintain rates within the current range, with growing speculation that the first rate cut could come as early as May. Any surprises in the Fed’s guidance could impact risk assets, including cryptocurrencies.

Investors will be watching closely to see if crypto markets react to tomorrow’s decision or continue their current consolidation phase.

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In the markets 

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🌍 Total crypto market cap ⬇️

The global cryptocurrency market capitalisation is currently approximately $2.73 trillion, showing a 0.63% decrease over the past 24 hours.

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🟠 Bitcoin (BTC) ⬇️

• Price: Currently trading at $83,394 reflecting a 0.07% decrease in the last 24 hours.

• Daily high: $84,583
• Daily low: $82,295  

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💎 Ethereum (ETH) ⬆️

• Price: Currently trading at $1,911, reflecting a 0.53% increase in the last 24 hours.
• Daily high: $1,949
• Daily low: $1,892

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📈 S&P 500 ⬆️

The S&P 500 index is currently up by 0.64% from the previous close.

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😬 Fear & Greed Index

The Crypto Fear & Greed Index is currently at 22, signalling Fear among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 47, indicating that the asset is bordering on being 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.