by Coinstrooper Crypto Articles
Quick Take
  • The crypto market is up today, with the cryptocurrency market capitalisation increasing by 2.6% to $3.25 trillion.
  • 92 of the top 100 coins have gone up over the past 24 hours.
  • At the same time, the total crypto trading volume is at $147 billion.
  • At the time of writing, 9 of the top 10 coins per market capitalization have seen their prices increase over the past 24 hours.

What Happened

Traders are focused on the US Federal Reserve’s decision on the interest rate cut expected to be announced today. However, many argue that the cut is already priced in.

Market Context

The crypto market is up today, with the cryptocurrency market capitalisation increasing by 2.6% to $3.25 trillion. 92 of the top 100 coins have gone up over the past 24 hours. At the same time, the total crypto trading volume is at $147 billion.

At the time of writing, 9 of the top 10 coins per market capitalization have seen their prices increase over the past 24 hours.

Bitcoin (BTC) is up by 2.3% since this time yesterday, currently trading at $92,694.

The second-highest rise is Solana (SOL)’s 4.4%, trading at $139.

It’s followed by Dogecoin (DOGE)’s 4.2% to the price of $0.1468.

The only fall among the ten is 0.4% by Tron (TRX), currently trading at $0.28.

“From here, a period of consolidation between $90,000 and $95,000 over the coming weeks is a ‘probably outcome’, as the market waits for a new catalyst capable of driving the next leg higher.”

However, that kind of pause should not be seen as a negative, he argues. Much of 2024 was defined by consolidation, but a major macro catalyst – in that case, the outcome of the US presidential election – triggered a sharp rally across markets.

Moreover, Bitunix analysts noted that geopolitical uncertainty is rising, so the crypto market sentiment remains cautious.

Notably, “within the negotiation framework, the U.S., Ukraine, and Europe remain locked in a three-way tug-of-war. If ongoing negotiation headlines continue to fuel safe-haven demand, volatility may be driven by a combination of macro sentiment and liquidity positioning,” the analysts said.

Why It Matters

Meanwhile, Changpeng Zhao argued that Bitcoin could see a major rally in 2026, potentially matching gold’s performance.

Koinly CEO Robin Singh commented that BTC’s recent uptick to almost $93,000 ahead of the US Federal Reserve rate cut decision “clearly signals that bulls are firmly defending the $90,000 level, which is now looking like the bottom, at least, for now.”

He continues: “Periods like this often signal maturation rather than weakness, with Bitcoin holding its ground even in the absence of immediate drivers for fresh momentum.”

Details

Crypto Winners & Losers

Ethereum (ETH) is up by 6.6%, now changing hands at $3,331. This is the category’s highest increase today.

The smallest rise in the category is 0.7% by Binance Coin (BNB), now standing at $893.

As for the top 100 coins, 92 have appreciated over the past day.

MemeCore (M) increased the most among these with the only double-digit rise: 10.2% to $1.45.

Cardano (ADA) follows with a 7.6% rise to $0.4603.

When it comes to the red coins, Bitcoin Cash (BCH) fell the most: 1.8% to $563.

LEO Token (LEO) is next, with a fall of 1.3% to $9.54.

A Consolidation Period Ahead

According to Singh,