Bitcoin, Ethereum, XRP, Dogecoin On A Knife's Edge Ahead Of Wednesday's Federal Reserve Decision

Cryptocurrency markets are anxiously anticipating Wednesday’s Federal Reserve interest rate decision, with the fear and greed index in neutral territory at 50.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction volume up by around 64% each in a single day.
• Crypto chart analyst Ali Martinez noted almost $19 billion in capital inflows into crypto ETFs during the last 30 days.
• Martinez also pointed to whales offloading 50,000 BTC in past ten days, implying profit-taking at current levels.

Community News: Ripple CEO Brad Garlinghouse celebrated a strong quarter for Ripple, citing the hidden road acquisition and the resolution of its SEC case. He also noted a surge in institutional demand for XRP ETPs worldwide.

On the Ethereum front, the upcoming Pectra upgrade is being closely watched. Historically, ETH has rallied ahead of major updates, but CryptoBanter observed that this cycle appears different, Ethereum has shown little upward movement so far.

Trader Notes: Crypto trader Michael van de Poppe pointed out that while gold is peaking ahead of the FOMC meeting, Ethereum and altcoins continue to decline. Ted Pillows flagged fresh whale buys totaling $3.1 million in ETH.

Get Started

Start Your Crypto Journey Today and Get $500 in Rewards

Exclusively for new Crypto.com App users, unlock up to $500 worth of rewards in the most popular tokens when you start trading.

Get Started

Scient sees a potential move higher but warned that a break below $1,750 could open up an opportunity to reload longs between $1,600–$1,550.

Crypto Chase is on the sidelines for Bitcoin, awaiting clearer structure or a deeper pullback before entering a long.

For Solana, he's watching $135 as a key support level but doubts it will hold if BTC dips to $88,000. He does not expect it to hold if BTC makes a big move like $88,000, price action doesn’t have to align perfectly across assets.

Ali Martinez noted Dogecoin is testing key support around $0.167. Holding this level could open the door for a rebound to $0.175 and possibly $0.183.

Read Next: 

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

Image: Shutterstock