The cryptocurrency market is in turmoil after the Federal Reserve's meeting, which decided not to cut interest rates. This has impacted the price dynamics of many digital assets, notably Bitcoin and Ethereum.
Pressure on Bitcoin and Ethereum
According to CoinMarketCap, Bitcoin is currently trading at $104,245, down 3% in the last 24 hours. The drop began on May 22, when Bitcoin reached a new all-time high of $111,000. Currently, the price is showing a bearish trend, creating successive lower price points after tapping off a supply zone at $110,000.
Situation with XRP
XRP likewise exhibits similar price dynamics. Since last November, it has been trapped between resistance at $2.69 and support at $1.9. Recently, the price broke out of an inverse head and shoulder pattern, climbing to $2.6, but subsequently retraced. Without sufficient market liquidity, XRP may drop to retest the $1.9 level.
Crypto Market Overview
The global cryptocurrency market capitalization currently stands at $3.2 trillion, reflecting a 0.23% drop over the last 24 hours. Trading volume is at $95 billion. Among top movers, Sei (SEI) has gained +13.92% and OKB (OKB) +10.41%, while the largest losses are seen in Fartcoin (FARTCOIN) at -8.11%.
The cryptocurrency market continues to feel pressure after the Fed meeting, leading to uncertainty among investors. Key digital asset movements should be monitored in the coming days.
