Cryptocurrency markets are rallying as the Fed holds rates, but growth forecasts dip and inflation expectations rise.

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 0.01% and daily active addresses falling by 5.8%. Transactions greater than $100,000 are down from 9,291 to 9,552 in a single day. Exchanges netflows are down by 367.09%.
• Coinglass data reports 89,191 traders were liquidated in the past 24 hours for $267.94 million.
• Crypto chart analyst Ali Martinez noted that the Bitcoin short-term holders are in panic, as indicated by 118,000 BTC moved off in a month.

Notable Developments:

• Ripple CEO Announces ‘Victory’ As SEC Drops Appeal In XRP Lawsuit
• Recession Would Be ‘A Big Catalyst For Bitcoin,’ BlackRock’s Head Of Digital Assets Says
• Next Layer Capital Joins Bitcoin for Corporations Amid Growing Institutional Adoption
• Cathie Wood Hops On Tokenization Hype Train, Says ‘We’d Love To Tokenize Our Venture Fund’
• Justin Sun Says ‘Ready To Buy And Collaborate’ In Solana Integration Tease, Tron Rallies 10%
• Bitcoin Could Reach $200,000 In 2025 If Fed Relaxes Policy, Bitwise’s Matt Hougan Says

Top Gainers:

Trader Notes: Crypto trader Blockchainedbb highlighted a large sell order at $108,000, requiring fresh buy orders to break through.

She noted historical market peaks six months post-election and speculated that Trump may prefer a bull run closer to the election. Given these factors, a run to $108,000 could be a bull trap.

Crypto trader Astronomer declared, “we have arrived” as the FOMC meeting went live, stating the bottom is likely in.

He emphasized positioning before the meeting and noted his trade is already up $5,000.

Another trader, Nebraskangooner, sees $86,250 as the key level to close above for a bullish breakout.

Michael van de Poppe observed no breakout yet but sees strong build-up. He expects Bitcoin to rally to $90,000 within 1-2 weeks if it stays above $81,500.

Read Next: 

• Bitcoin, Ethereum Face Uncertain Future: What Do Technical Indicators Say?

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