The crypto market has displayed subtle strength in the last 24 hours, with the global market cap increasing by 0.69% to $2.68 trillion. Trading volume also saw a rise of 10.35% to reach $98.18 billion. Despite the uptick, the Fear & Greed Index fell to 27, indicating a sense of fear prevailing in the market.
Fed Chair Powell Highlights Economic Concerns
In a recent statement, U.S. Federal Reserve Chair Jerome Powell expressed concerns about the potential economic impact of the tariffs proposed by Donald Trump. Powell cautioned that these tariffs could result in higher inflation and unemployment, while also slowing overall economic growth.
He stressed that it is premature to consider any adjustments to U.S. monetary policy at this time. This suggests that there are no imminent plans for interest rate cuts, as the Fed remains committed to bringing inflation back to its 2% target. The current benchmark interest rate is maintained between 4.25% and 4.50%.
Bitcoin Holds at $83k, Altcoins Display Varied Signals
Bitcoin continues to demonstrate strength, staying above the $83,000 level and contributing to a market dominance of over 60%. Ethereum, XRP, and Solana also saw marginal increases of 0.46%, 3.16%, and 3.97%, respectively. However, the broader altcoin market exhibited mixed performance with both notable gainers and losers.
Explore our Bitcoin Price Prediction 2025, 2026-2030 for insights into BTC’s future price trajectory!
Top Performers:
Among the top performers, OKB surged by almost 9%, indicating significant investor interest in exchange-native tokens. Popular meme coin PEPE saw a gain of over 4%, driven by renewed speculative activity. Sonic also experienced a similar increase, attracting traders seeking quick profits.
Biggest Decliners:
On the flip side, PI and JTO both recorded substantial losses of 18.82%, making them the top decliners of the day. EOS also faced challenges, dropping nearly 8% amidst broader market uncertainties.
Keep an eye on our updates as we monitor macroeconomic factors and market sentiments influencing the digital asset landscape.
FAQs
The Fear & Greed Index has fallen to 27, signaling a rise in fear and cautious investor sentiment.
OKB, PEPE, and Sonic were the top gainers in the last 24 hours, displaying strong short-term momentum.
Jerome Powell cautioned that Trump’s proposed tariffs could lead to increased inflation and unemployment, but also mentioned that it is too early to revise monetary policy.
