Bitcoin surged nearly 3% in the past 24 hours to trade near the $92,000 mark on Wednesday, while Ethereum jumped almost 7% ahead of the US Fed policy outcome due later today. At 11:30 am IST, Bitcoin was trading at $92,554 and Ethereum at $3,325.

Among major altcoins, XRP, Solana, Dogecoin, Cardano, and Hyperliquid gained more than 8% over the past 24 hours, while BNB and Tron slipped marginally by around 0.06% and 0.14%, respectively. The global crypto market capitalisation rose 2.36% to $3.16 trillion, according to CoinMarketCap.

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Riya Sehgal, Research Analyst at Delta Exchange, said the crypto market is trading higher ahead of the Federal Reserve’s final rate decision of 2025, with traders positioning for a possible 25-basis-point rate cut or at least a dovish policy tone.

Sehgal adds that Ethereum’s rally is being fuelled by institutional accumulation and declining exchange reserves, with only 8.7% of ETH now held on exchanges and staking inflows exceeding 40,000 ETH daily. “If the Fed delivers a dovish signal, it could trigger a liquidity-driven rally across the crypto market. Conversely, a hawkish stance may prompt short-term profit-taking. For now, sentiment remains cautiously optimistic, with Ethereum leading the market’s momentum into the FOMC event.”

According to CoinMarketCap data, over the past week Bitcoin has slipped 0.83%, while Ethereum has gained 8.66%. Among major altcoins, BNB, XRP, Solana, Cardano, Hyperliquid and Dogecoin have fallen more than 16%, whereas Tron and Cardano rose 0.15% and 5.42%, respectively.

The CoinDCX Research Team noted that crypto market volatility has increased, with sharp price swings over the past 24 hours. Bitcoin has reclaimed $92,000 and is moving toward $92,500 in an attempt to stabilise the range and maintain its upward momentum. Ethereum, meanwhile, is showing comparatively stronger performance, surging past $3,300 and signalling rising altcoin dominance.

The team added that the recent jump has drawn more than $150 billion in liquidity into the market, pushing up total crypto market capitalisation.

Here’s what other analysts say

Akshat Siddhant, Lead Quant Analyst, Mudrex

Bitcoin briefly reclaimed $94,000, strengthening its short-term bullish structure ahead of the Fed’s rate decision. The sudden spike was driven by concentrated whale accumulation, which increased buying pressure. Additionally, more than 403,000 BTC have moved off exchanges this week, tightening supply and amplifying price reactions when demand picks up.

While a 25-bps rate cut is largely priced in, the market’s focus is now on the Fed’s outlook for 2026. A dovish tone could keep BTC buoyant within the $93,000–$95,000 range, whereas a cautious stance may drag it back toward $88,000.

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Vikram Subburaj, CEO, Giottus.com

Bitcoin is holding near the $92,000 level after a sharp reversal in the U.S. session, with price action finally showing signs of stabilisation. However, underlying demand remains soft. ETF flows have turned mildly positive for the first time in weeks, helping to ease the heavy selling pressure that dominated November.

Altcoins remain mixed but continue to show pockets of relative strength as Bitcoin consolidates. Ether has extended its outperformance and is trading near two-week highs, supported by short covering and improving sentiment ahead of the FOMC.