Cryptocurrencies are trading deep in the red even as market leader Bitcoin dropped below the $73k level and overall market capitalization touched a low of $2.48 trillion.
Cryptocurrencies rebounded emphatically in the past 24 hours, recouping a portion of the losses suffered earlier in the week when Bitcoin declined below the $75k level.
Cryptocurrencies rebounded after a massive plunge earlier that witnessed Bitcoin falling below the $75 thousand level.
Cryptocurrencies recorded a massive plunge in the past 24 hours as markets waited for the announcement regarding the next Chairperson of the Federal Reserve.
The Fed's pause on rate cuts dampened sentiment across the crypto market resulting in overall market capitalization declining more than 2 percent in the past 24 hours.
Cryptocurrencies have gained in the past 24 hours even as global markets brace for the Federal Reserve's interest rate decision, which markets widely expect to be a "hold".
Weak sentiment prevails in cryptocurrency markets ahead of the interest rate decisions by major central banks.
January 30, 2026 15:51 ET The Federal Reserve policy decision was the main event in the final week of January, which saw a heavy flow of economics news. Several data reflecting the trends in the U.S. economy were also released during the week. The interest rate decision from Canada also was in focus. In Europe, economic sentiment data gained attention. The policy decision from Singapore was the highlight in Asia.