While the rate cut itself is largely expected, analysts believe that Powell's forward guidance will play a crucial role in determining whether these levels push higher or lead to a corrective pullback
The rally was supported by strong institutional and stablecoin inflows, helping Bitcoin maintain its gains, though altcoins showed mixed performance, according to analysts
BTC dominance has slipped to 57.3 per cent, while the CMC Altcoin Season Index has climbed to 62/100, which analysts suggest are early signs of capital rotation into altcoins
Ashish Singhal, Co-founder of CoinSwitch, believes that India needs a balanced approach to the crypto markets-emphasizing smart regulation, robust security standards, and ongoing investor education
Market analysts attribute the the cautious optimism to a balance between consolidating price action and renewed corporate activity
Activity in the DeFi space also remained robust, with year-to-date lending volumes rising sharply, signaling deeper integration between traditional and blockchain-based finance, said analysts
Analysts suggest the market may be gradually moving past recent sell-side pressure
The market analysts, however, remain optimistic, suggesting that ongoing macroeconomic factors point toward a potential trend reversal
This feature enables merchants to connect to a crypto market worth over $3 trillion by allowing instant crypto-to-stablecoin or fiat currency conversion
So far this month, Ethereum has surged nearly 59 per cent. Despite the recent rally, ETH remains 19 per cent below its all-time high of $4,891, reached in November 2021
Bitcoin has fluctuated in the range of $116,550 - $119,239 in the last 24 hours, with a trading volume of $62.97 billion
The approval of these crypto-related bills, analysts said, has boosted investor confidence and added regulatory clarity, driving strong upward momentum across the market
The flagship cryptocurrency's market cap has soared to $2.43 trillion, cementing its position as the largest cryptocurrency by market capitalisation and making it the fifth-largest asset globally
The rally in Bitcoin, market analysts said, is being driven by a confluence of macroeconomic factors including anticipated US rate cuts, a weakening dollar, and ongoing trade negotiations
Alongside Bitcoin and Ethereum, other altcoins within the top 10 displayed strength and were trading above their respective support levels
Market analysts, however, remain optimistic about the long run and expect the impact on the crypto market to be negative only in the short term
Bitcoin, however, has remained above the $109,000 mark as bulls maintain control despite brief selling pressure from US nonfarm payroll data, said analysts
Market analysts suggest that the ceasefire alleviated immediate concerns about global oil disruptions and restored geopolitical stability, elevating the confidence of the crypto bulls
The sudden escalation, analysts said, triggered widespread panic across the crypto market, resulting in over $1 billion in liquidations-primarily from overleveraged long positions
Analysts believe that the regulatory developments such as the GENIUS Act and Thailand's recent five-year tax exemption policy are shaping a new global crypto landscape