Bittensor and Bera buck the trend as broader market pulls back
📉 Crypto pauses ahead of Fed call – Broader digital asset markets are largely flat ahead of tomorrow’s interest rate decision.
📈 Some altcoins outperform – Berachain (BERA) and Bittensor (TAO) edge higher, while Litecoin (LTC) and Optimism (OP) lead losses on Luno.
📊 Investor sentiment holds steady – The Fear and Greed Index remains in neutral territory, with trading volumes showing little movement.
🛠️ Ethereum Pectra upgrade nears – All eyes on whether tomorrow's upgrade could spark new momentum for ETH.
CRYPTO markets are showing signs of caution ahead of Wednesday’s US Federal Reserve interest rate decision, with most major cryptocurrencies drifting lower or trading sideways.
Bitcoin (BTC) and Ethereum (ETH) are flat on the day, while a few altcoins, Berachain (BERA) and Bittensor (TAO), are bucking the trend with gains of 1% to 3%.
The crypto Fear and Greed Index continues to hover in neutral territory, and overall trading volumes have remained sideways since jumping around 20 April. This lack of movement may point to investors waiting on macro or crypto-specific catalysts before making their next move.
Tomorrow brings two such catalysts: the Federal Reserve is widely expected to hold rates steady, bolstered by recent strong US employment data, while Ethereum is scheduled to undergo its long-awaited Pectra upgrade.
With both traditional and crypto markets poised at a potential turning point, the next 48 hours may offer clearer direction for investors navigating an uncertain macro backdrop.
In the markets…
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalization is approximately $2.94 trillion, reflecting a 0.54% decrease over the last 24 hours.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at around $94,464, marking a 0.27% decrease in the last 24 hours.
Daily high: Approximately $95,111
Daily low: Approximately $93,704
📈 S&P 500 ⬇️
The S&P 500 index is down about 0.64% since yesterday.
🙂 Fear & Greed Index
The Crypto Fear & Greed Index currently stands at 49/100, indicating a slight Greed sentiment among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The RSI for Bitcoin is approximately 50, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.
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.
