Bitcoin, Ethereum, XRP, Dogecoin Grind Up After As-Expected Fed Rate Cut Decision

Author: Khyathi Dalal | January 29, 2025 04:14pm

Cryptocurrency markets are trading slightly up as the Federal Reserve continue to hold interest rates steady.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$103,822	+2.6%
Ethereum (CRYPTO: ETH)	$3,119	+0.6%
Solana (CRYPTO: SOL)	$233.27	+2.1%
XRP (CRYPTO: XRP)	$3.00	+0.2%
Dogecoin (CRYPTO: DOGE)	$0.3288	+2.3%
Shiba Inu (CRYPTO: SHIB)	$0.00001853	+1.6%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 21.4% and daily active addresses falling by 7.8%. Transactions greater than $100,000 are down from 12,753 to  10,724 in a single day. Exchanges netflows are down by 721.5%.
• Coinglass data reports 128,942 traders were liquidated in the past 24 hours for $285.11 million.

Notable Developments:

• Robinhood Expands Trading Services With Bitcoin, Oil, Gold Futures
• Coinbase Taps Trump’s Campaign Manager, Chris LaCivita To Tackle Crypto Policy In Washington
• Czech Central Bank Considering 5% Bitcoin Reserve
• Bill Miller Snapped Up 50K MicroStrategy Shares In Q3 — Was It A Smarter Play Than Bitcoin ETFs?
• Robinhood CEO Vlad Tenev Pushes For Tokenization To Unlock Private Companies Like SpaceX And OpenAI For More Investors

Top Gainers:

Cryptocurrency	Price	Gains +/-
Dogwifhat (CRYPTO: WIF)	$1.22	+18.1%
Onyxcoin (CRYPTO: XCN)	$0.03439	+14.2%
Fartcoin (CRYPTO: JTO)	$0.9887	+13.1%

Trader Notes: Glassnode data shows the ratio of profit to loss volumes among Bitcoin Long-Term Holders (LTH) remaining high, characteristic of bull markets.

Assessing the balance between #Bitcoin Long-Term Holders' profit and loss volumes, we can see that the ratio of the two remains significantly elevated.

This phenomenon is typical of bull market regimes, resulting from the minuscule amount of LTH supply held at a loss:… pic.twitter.com/CIXw13EGOV

— glassnode (@glassnode) January 29, 2025

Crypto trader Follis, in a recent X post, indicated that the classic FOMC shakeout could flush weak hands, reset leverage, then send it higher.

If Bitcoin recovers quickly post-FOMC, it's just more fuel for the uptrend.

Crypto trader Rekt Capital sees Bitcoin testing the diagonal resistance within the $101,000-$106,000 range and a daily close above this resistance as crucial for a breakout.

Without this close, previous upside wicks risk rejection.

Read Next: 

• Bitcoin, Solana, XRP With Strong Month But Challenges Await: Report

Posted In: $BTC $DOGE $ETH $JTO $SHIB $SOL $WIF $XCN $XRP