Large-caps hold the line, while Fed Chair Jerome Powell says its wait-and-see for now
📈 Bitcoin steady above $106K - BTC holds gains from Monday, trading around $106,600, while Ethereum and Bitcoin Cash extend their upward momentum.
📉 Mixed altcoin performance - Bittensor (TAO) sees deeper declines, while Synthetix (SNX) pushes higher, showing the uneven sentiment across the altcoin market.
📊 Fed signals no rate cuts yet - Fed Chair Jerome Powell reaffirmed a cautious stance on rate cuts, saying it's too early to respond to tariff-induced price shocks.
Bitcoin (BTC) and other major cryptocurrencies have held onto gains made yesterday, with the market cap leader trading around $106,600 at the time of writing. Ethereum (ETH) has added another 1% to its price since yesterday, while Bitcoin Cash extended its rally by 4%. It’s a mixed bag across the rest of the market, with some like Bittensor (TAO) experiencing deeper declines, while Synthetix (SNX) climbs in price.
Taking a step back, most of the large-cap cryptocurrencies in the top 10 have recovered losses from the weekend. Many analysts attribute the earlier pullback to heightened uncertainty in risk-on markets following a US airstrike on Iran. However, markets have since improved on news of a ceasefire deal between Israel and Iran, which, according to reports, currently appears to be holding, although the situation remains volatile.
Turning to US interest rates, a key focus for global investors, Federal Reserve Chair Jerome Powell testified before the House of Representatives yesterday. He emphasised the Fed’s commitment to preventing temporary price increases caused by tariffs from evolving into long-term inflation. Powell added that it is still too early to consider cutting interest rates, reiterating the Fed’s current "wait-and-see" approach. The same goes for investors.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.28 trillion, reflecting a 0.51% increase over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $106,497, up 0.65% in the last 24 h
Daily high: $106,691
Daily low: $104,854
📈 S&P 500 ↗️
SPY is currently up about 1.1% since yesterday’s close.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 48/100, indicating a neutral sentiment among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 63, still in the neutral zone (30–70).
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.
