Bitcoin drifts, Ethereum and others gather momentum, and Fed meeting minutes later today
📉 Bitcoin drifts – BTC has stayed between $108K–$109K all week, showing little price movement as markets await clarity on US trade tariffs and interest rate direction.
⚖️ Neutral sentiment persists – The Fear and Greed Index remains flat, reinforcing a wait-and-see approach by investors in both crypto and equities.
📈 Mid-caps gaining – Altcoins like Cardano (ADA), Chainlink (LINK), and Uniswap (UNI) are seeing notable gains of 3–6%, suggesting selective momentum.
📊 Volatility outlook split – Bitcoin’s implied volatility sits at a moderate 39%, while Ethereum’s 64% suggests traders expect bigger price swings.
The price of Bitcoin (BTC) has remained range-bound this week, hovering between $108K and $109K, while Ethereum (ETH) and other cryptocurrencies have gained momentum. The ongoing U.S. trade tariff narrative continues to dominate headlines and influence investor sentiment. President Trump reiterated plans for additional tariffs targeting BRICS countries and announced further duties on commodities like copper. The broader equity market remains similarly stagnant, as investors await clearer signals on both tariffs and interest rates.
Several mid-caps are showing positive movement this morning, with Cardano (ADA), Chainlink (LINK), and Uniswap (UNI) up between 3–6%. The Fear and Greed Index continues to reflect neutral sentiment, with little change over recent days.
Volmex Implied Volatility currently sits at 39% for Bitcoin and 64% for Ethereum. Implied volatility (IV) reflects the market's expectations for price fluctuations over the next 30 days, based on options pricing. Bitcoin’s IV of 39.16% suggests moderate volatility, typical for a consolidating market. The FOMC minutes are expected later today and could offer investors fresh insight into the Fed’s outlook on interest rate cuts, which many anticipate in September. Could this be the catalyst that shakes markets out of their current slumber?
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.36 trillion, up 1.25% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $108,735, up 0.23% in the last 24 h
Daily high: $109,116
Daily low: $108,198
📈 S&P 500 ↘️
SPY is currently down about 0.007% since yesterday’s close.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 52/100, indicating a neutral sentiment among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 53, still in the neutral zone (30–70).
Data is accurate as at 08:20 GMT, 9 July.
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.
