Cryptocurrencies declined in the past 24 hours amidst growing anxiety about the Federal Reserve's monetary policy outlook. The decision of the first FOMC under the leadership of Kevin Warsh would be known on Wednesday afternoon. Markets expect the Fed to hold rates steady but are less sure about the forward guidance on rates.
BTC traded between $66,410 and $64,506 in the past 24 hours. Overall crypto market capitalization decreased a little less than 2 percent during the same period to $2.23 trillion.
The CME FedWatch tool that tracks the expectations of interest rate traders shows the likelihood of the Federal Reserve retaining the target rate at the current level of 3.50-3.75 percent on Wednesday at 99.6 percent.
Alongside the Federal Open Market Committee, a summary of economic projections spanning the most likely outcomes for real gross domestic product growth, the unemployment rate, and inflation for each year from 2026 to 2028 and over the longer run are also expected to be unveiled.
The projections for the year 2026 made in March had pegged the GDP growth at 2.4 percent and the unemployment rate at 4.4 percent. Both headline and core PCE inflation have been projected at 2.7 percent. The projected median Federal funds rate was 3.4 percent, implying a quarter percent rate cut by the year end. However, the CME FedWatch tool that tracks the expectations of interest rate traders shows nil probability for the Federal funds rate to fall to 3.25-3.50 percent in the last FOMC of the year on December 9, 2026.
With an interim peace deal to end the hostilities in the Middle East already signed and a new leadership at the helm of the central bank, the uncertainty surrounding the Fed's outlook on the economy has increased. The uncertainty reflected in a slippage in CoinMarketCap's Fear and Greed Index, a measure of the sentiment prevailing in the cryptocurrency market. The index has dropped to 23 ("fear") from 24 ("fear") a day earlier.
The shift in focus was manifested in the crypto liquidation statistics over the past 24 hours. While the total crypto liquidations reduced during the period, the constitution swayed from predominantly short positions to largely long positions. Crypto liquidations during the past 24 hours stood at $299 million comprising long positions of $230 million and short positions of $69 million. It was $525 million a day earlier, made up of short positions of $363 million and long positions of $163 million.
Bitcoin (BTC), the largest cryptocurrency is trading 2.3 percent lower at $64,909.43. The current price is around 49 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has rallied 5.2 percent in the past week but is still saddled with losses of close to 27 percent on a year-to-date basis.
Bitcoin Spot ETF products in the U.S. witnessed net inflows of $10 million on Tuesday versus net outflows of $65 million on Monday. Grayscale Bitcoin Trust ETF (GBTC) topped with net outflows of $17 million whereas market leader iShares Bitcoin Trust (IBIT) topped with net inflows of $16 million.
Bitcoin continues to be ranked 15th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. Bitcoin is the only cryptocurrency ranked among the top 100 in the above-mentioned global ranking.
Ethereum (ETH) erased 3.3 percent overnight as it traded at $1,754.17. The leading alternate coin is trading 65 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $1,815.12 and $1,742.49.
Ethereum Spot ETF products in the U.S. witnessed net inflows declining to $10 million on Tuesday from $23 million on Monday. Market leader iShares Ethereum Trust ETF (ETHA) topped with inflows of $17 million.
4th ranked BNB (BNB) slipped 0.77 percent overnight resulting in price decreasing to $609.28. BNB is trading 56 percent below the all-time high of $1,370.55 touched on October 13, 2025.
6th ranked XRP (XRP), a payments-focused cryptocurrency lost 4.6 percent overnight and is currently trading at $1.19, around 69 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 4.2 percent overnight to $71.91. SOL's current price is around 76 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall gained 0.83 percent overnight and is currently changing hands at $0.3201. The trading price is 27 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Hyperliquid (HYPE) plunged 7.6 percent overnight, to trade at $70.03, around 9 percent below the all-time high of $76.85 recorded on June 16. HYPE Spot ETF products in the U.S. recorded net inflows of $9 million on Tuesday.
Memecoin Dogecoin (DOGE) ranked 10th overall lost 3.2 percent overnight and is currently trading at $0.0858. DOGE is trading 88 percent below the peak price of $0.7376 recorded on May 8, 2021.
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