Bitcoin, Ethereum, XRP, Dogecoin Slide As Markets Brace For Fed Interest Rate Decision

Cryptocurrency markets continued trending lower early this week, with market participants eyeing Wednesday’s FOMC meeting and Federal Reserve Chair Jerome Powell's speech.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 64.1% and daily active addresses growing by 22.5%. Transactions greater than $100,000 are up from 6,732 to 9,843 in a single day. Exchanges netflows are up by 13.9%.
• Coinglass data reports 115,162 traders were liquidated in the past 24 hours for $213.45 million.

Notable Developments:

• XRP Outpaces Bitcoin, Ethereum In Q1 As Investment Inflows Top $200 Million
• EXCLUSIVE: DeFi Development Corp Expands Digital Asset Portfolio, Holds $58.5 Million In Solana Tokens
• Florida Presses Pause On Bitcoin Reserve Bill: Here’s What Happened
• eToro Eyes $5B Valuation In Nasdaq IPO, Sets Price Range At $46–$50 Per Share
• FTX Creditors Sold Potential $500M Anysphere Stake For $200,000 Before Startup’s Valuation Tripled

Top Losers:

Trader Notes: More Crypto Online suggests that Bitcoin may have completed its correction, though confirmation hinges on a decisive breakout above $95,240.

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With the Fed's rate announcement due Wednesday, the trader warns that a major move could be imminent adding that it's a waiting game to see whether Bitcoin or the Fed blinks first.

Meanwhile, trader DevKhabib expects Bitcoin to face another rejection at recent resistance, forecasting a sharp pullback toward $90,000 as markets brace for volatility following the FOMC decision.

Crypto trader Scient highlights that Bitcoin's price is pivoting around the $95,600 4-hour market structure shift (MSS) level.

A recent fake breakout above that zone led to a quick drop and local trend reversal.

He lays out two possible paths: in a bearish scenario, BTC retests $95,600 as resistance and breaks lower and in a bullish scenario, a clean reclaim of $95,600 could open the door to retesting the $98,000 highs.

Read Next: 

• Bitcoin Dips Below $94,000 As Traders Eye Potential Short-Term Top

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