Crypto market recap: Altcoins under pressure ahead of Fed policy announcement
Bitcoin (BTC) is trading around $115,540, reflecting cautious optimism among investors.
Over the past 24 hours, BTC has slipped about 0.5–1%, with traders noting that the price is forming a symmetrical triangle pattern—a technical setup that often precedes a breakout or breakdown depending on which way momentum swings. Analysts suggest this consolidation is a sign that many are waiting for clearer signals before making aggressive moves. The broader market seems subdued in anticipation of the upcoming Federal Reserve decision, which could strongly influence crypto sentiment.
Ethereum and altcoins retreat amid pre-Fed caution
Ethereum (ETH) has fallen around 2.75% in the last day, bringing its price to approximately $4,518.61. Other major altcoins are also under pressure: XRP dropped about 2.2%, Solana by 3.2%, while more speculative tokens like Dogecoin lost nearly 5%. The general downward trend reflects investor caution ahead of the Fed’s policy announcement, as many are recalibrating exposure. There is also growing attention being paid to smaller emerging projects—such as Layer Brett—seen by some as having upside if risk appetites return.
Tether launch, regulatory moves, and the Strategic Bitcoin Reserve debate
Tether (USDT) is planning to launch a new stablecoin, USAT, for U.S. residents. It’s designed to comply with the GENIUS Act, and will be issued via Anchorage Digital Bank. This move highlights Tether’s strategy to expand domestically under stricter regulatory frameworks. Meanwhile, the debate over a U.S. Strategic Bitcoin Reserve has gained momentum: the proposed BITCOIN Act suggests that the U.S. government acquire 1 million BTC over five years via “budget-neutral” methods. Key figures like Michael Saylor and lawmakers are actively backing this initiative. If passed, this could dramatically shift demand dynamics for Bitcoin over the medium term.
Recently we wrote that the United Nations Development Programme (UNDP) is preparing to launch a Government Blockchain Academy in partnership with the Exponential Science Foundation, a nonprofit focused on blockchain and AI advocacy.
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