Bitcoin Price Dips 1% Ahead of FOMC Decision: ETH Below $4,100; Solana, XRP, Dogecoin Also in Red

The crypto market on Tuesday saw a slight pullback with most major tokens trading lower after a volatile start to the week. The total crypto market capitalisation hovered around $3.86 trillion, with Bitcoin once again leading market movements.

"Bitcoin is consolidating around $114,500 after testing resistance near $116,000, as traders remain cautious ahead of the FOMC meeting. Meanwhile, the overall market sentiment is improving with the Fear-Greed index back to 'Neutral'. Institutions are also showing signs of a comeback, with global crypto investment products seeing $921 million in weekly net inflows," said Edul Patel, CEO of Mudrex.

Bitcoin Price Today

BTC slipped 1.22% to trade at $113,888.28, though it remains up over 5% in the past week and 1.45% in the past month.

Ethereum and Altcoins See Mild Corrections

Ethereum price, dropped 2.73% to $4,099.84, bringing its total market cap to $494.88 billion. Despite the dip, Ethereum has seen a 5.81% gain this week.

Among other altcoins, Binance Coin price fell 0.59% to $1,137.43, but remained up 14.46% over the month, while Solana declined 1.42% to $201.35 with a $110.42 billion market cap.

XRP, Dogecoin, Cardano Slide

XRP or Ripple coin this morning slipped 0.93% to $2.63, despite an impressive 8% weekly gain, while Dogecoin fell nearly 4% to $0.1998 due to broader meme coin corrections. Cardano (ADA) also declined 2.83% to $0.6661, with a steep 17.7% monthly drop.

Stablecoins Performance

Leading stablecoins are maintaining parity with the U.S. dollar. Tether (USDT) traded at $0.9999 and USD Coin (USDC) stayed at $0.9998.

Other Gainers Today

Among mid-cap tokens, Hyperliquid (HYPE) showed remarkable performance, surging 34.25% over the week to $47.50. It currently holds a $15.97 billion market capitalization. Meanwhile, Chainlink (LINK) dipped 3.62% to $18.25, with a $12.68 billion market cap and a 3.6% weekly rise.

Crypto Market Outlook Ahead

"BTC retested the $116K level, supported by positive developments including progress in U.S-China trade talks and rising expectations of a Fed rate cut scheduled for tomorrow, which could lower borrowing costs and boost liquidity across Crypto market. BTC has since eased to around $114K. ETH climbed above $4,200, its highest level in two weeks, while ETH ETFs recorded inflow after three consecutive days of outflow." as per CoinSwitch Markets Desk.

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