The crypto market lacks clear direction. Bitcoin (BTC) is still in its boring range-play between $90,000 and $95,000, and there's little cheer in the broader market, as evidenced by over 2% declines in the CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indexes. ZEC is the only major token to have gained more than 3% over 24 hours.
The lackluster action could be due to traders pushing back any plans for bullish bets until after the tomorrow's Fed's interest-rate meeting, which could bring volatility.
"Mindful of the potential for significant two-sided volatility pre and post the FOMC event, clients seeking to increase upside exposures for Q1 2026 have expressed a preference to defer execution until after the event, and we expect this flow will notably increase during the latter part of this week," TDX Strategies' founder Dick Lo said in a market note.
The Fed meeting kicks off today and will conclude tomorrow, a 25 basis-point rate cut is priced in. Some traders are worried that the decision could be accompanied by hawkish forward guidance, pointing to slower easing in 2026.
These expectations could set the stage for a rally, according to CF Benchmarks.
"If we look at Fed funds futures today, the market is pricing in a rate cut on Wednesday, but not another one until June.
We believe there’s some room for upside here should the Fed signal that there is potential for another cut before the June meeting. That becomes more likely if the labor market continues to soften and inflation expectations stay in the 2–3% range," the index provider said in an email to CoinDesk.
Key metrics like the cumulative volume delta (CVD) indicate continued dominance of sellers in the spot market.
"Spot flows remain soft. Spot CVD dropped from –$40M to –$111M, signaling persistent sell flow even as price holds at $90K," said Timothy Misir, the head of research at #BRN .
In other news, Ethereum founder #VitalikButerin 's proposal to make Ethereum transactions more predictable and create a trustless onchain gas futures market is grabbing eyeballs.
Crypto exchange #KUCOIN released a Post-Quantum Cryptography (PQC) Gateway proof-of-concept, an experimental prototype gateway system designed to integrate quantum-resistant cryptographic algorithms.
In traditional markets, the 10-year U.S. Treasury yield continued to increase, hitting three-month highs, and the yen traded weak despite the BOJ rate-hike expectations. Stay alert!
Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt
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