Altcoins rally as Bitcoin moves sideways with crypto policy changes under Trump looming

January 31, 2025
James Bowater

BITCOIN is holding steady, but the action is in altcoins today. Fantom (FTM), Aave (AAVE), and Polkadot (DOT) have posted solid gains over the past 24 hours, while Ethereum (ETH) has outperformed BTC with a 2% jump.

Meanwhile, Bitcoin’s trading volume across exchanges has dropped about 30% in the last day, a possible sign that investors might be waiting for a clearer market signal before making their next move.

The market leader has spent most of the past week consolidating above $100,000, hitting a high of around $106,000 yesterday.

All eyes today are on the latest Personal Consumption Expenditures Price Index (PCE) data out of the US - a key inflation gauge the Federal Reserve watches closely.

The report follows the Fed’s decision earlier this week to hold rates steady, with Chair Jerome Powell hinting that cuts could still be on the table, if inflation shows clear signs of cooling again.

In the Markets

🌦️The Data... 

Total crypto market cap

The total cryptocurrency market capitalization stands at approximately $2.08 trillion, a 2.2% increase over the past 24 hours.

Bitcoin (BTC)

  • Price: Currently trading at $104,415, a slight decrease of 0.43% in the last 24 hours.
  • Daily high: $106,351
  • Daily low: $103,907
  • Market cap: Approximately $2.03 trillion
  • 24-hour trading volume: $42.54 billion, a decrease of 39.08% from the previous day.

S&P 500

The S&P 500 index has seen a modest uptick, currently at 605.04, up by 0.53% from the previous close.

Fear and Greed Index

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The Crypto Fear and Greed Index is currently in the 'Neutral' zone, indicating a balanced sentiment among investors.

Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 58.79, suggesting that the asset is neither overbought nor oversold at this time.

These metrics provide a snapshot of the current market conditions, reflecting a period of consolidation and cautious optimism among investors.

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.