Major cryptocurrencies kicked off the new week on a positive note, buoyed by improving macroeconomic sentiment. Markets are currently awaiting the FOMC decision later today and any further updates on U.S.-China trade developments. Notably, Scott Bessent will be meeting with Chinese officials in Geneva this weekend for crucial trade talks.
Notable Statistics:
Smiley Capital does not anticipate a rate cut from the Fed today but expects a dovish tone from the Fed that may hint at policy easing ahead.
The trader also anticipates a U.S.-China trade resolution within 30 days, which could in turn spark a broad-based rally across equities, crypto, and emerging markets, in what he terms an "everything pumps" scenario.
Crypto chart analyst Ali Martinez predicts a retest of the $97,700 resistance for Bitcoin ahead of the FOMC meeting, suggesting this could trigger a short-term pullback.
Crypto trader Ted Pillows noted how the recent BTC rally coincides with China's ¥1 trillion liquidity injection, advising traders to monitor global M2 supply for better insights into price movements.
For Ethereum, Michael van de Poppe expects a bounce if ETH manages to stay above a key support, with a breakout to $2,100 anticipated within the next 1–2 weeks.
Martinez also spotted XRP forming a 3-Day Top (TD) Sequential sell signal, which typically signals a small retracement from the prevailing trend.
Traders are becoming increasingly bullish on Dogecoin. Trader Tardigrade highlights a falling wedge pattern forming on the DOGE chart, signaling a potential breakout, and notes how a similar setup previously led to a 300% rally in DOGE vs. TOTAL.
Degen Hardy flagged DOGE's bullish consolidation at a key support zone, with oversold RSI levels suggesting the meme coin is "primed for a pump."
