Tuesday turned ugly for digital assets as the overall market value fell by half a percent to $4.11 trillion while traders sat on their hands before Wednesday’s big Federal Reserve announcement. Almost 90 out of the top 100 coins were bleeding red, which tells you how anxious people are getting.
Bitcoin took a hit too, losing half a percent to settle around $115,864 after bouncing all over the place during the session. It opened near $115,895, then crashed down to $114,509 before clawing its way back up toward $116,000. That kind of wild swinging usually happens when nobody knows what the hell is going on.
Ethereum got smacked even harder, dropping over 2.5% to land at $4,508 as buyers just weren’t interested. Dogecoin suffered the worst damage among the big names, plunging 3% to roughly 26 cents. Binance Coin was about the only thing that stayed green, but barely.
Everyone’s basically holding their breath until the Fed makes their move on Wednesday. Most folks think they’re gonna cut interest rates for the first time in over a year, which could completely change the game for risky stuff like crypto. Cheaper money usually means more cash flowing into speculative bets.
Some experts are getting pretty excited about what might happen if rates actually drop. According to Bitget thinks Bitcoin could rocket all the way to $150,000 or even $200,000 before the year’s over.
Conclusion
Crypto markets fell 0.5% Tuesday as Bitcoin and Ethereum declined while nervous investors await Wednesday’s critical Federal Reserve interest rate announcement.
Also Read: Fed Rate Cut Looms
