Crypto Price Today: Bitcoin falls below $102,000 mark ahead of Fed decision; Altcoins decline up to 6% #CriptoNews

Bitcoin, the world’s largest cryptocurrency by market value, traded below $102,000 on Wednesday, ahead of the U.S. Federal Reserve’s rate decision later in the day.

As of 11:00 am IST, Bitcoin was down 1%, trading at $101,990, while Ethereum dropped 2.8% to $3,123.

“Bitcoin is consolidating between $100,000 and $102,000 as markets await today’s FOMC meeting, the first monetary policy decision of 2025. While inflation has eased, it remains above target, making it likely the Fed will keep its benchmark rate steady at 4.25%-4.50%,” said Alankar Saxena, Co-founder and CPO of Mudrex.

“If the Fed chair adopts a hawkish stance, Bitcoin could experience some temporary volatility. Key levels to watch are resistance at $102,200 and support at $99,330,” Saxena added.

CoinSwitch Markets Desk commented, “Markets remain on edge ahead of the FOMC decision, with the CME FedWatch tool pricing in a 99%+ probability of no rate cut. Given the heightened uncertainty, volatility is expected to remain elevated, and traders are advised to exercise caution.”

The Fed is expected to keep the lending rate steady at its policy meeting, which concludes later in the day. The central bank’s comments on the future rate trajectory, following U.S. President Donald Trump’s call for lower interest rates, will be crucial for global markets, affecting foreign flows.U.S. Treasury yields rose overnight, while the dollar strengthened. A rebound in technology stocks helped Wall Street equities recover, after a sharp decline on Monday sparked by a low-cost Chinese AI model.Also Read: Biggest stock market crash coming in February: Rich Dad Poor Dad’s author Robert Kiyosaki

Other major altcoins, including Solana (-4.8%), BNB (-1%), Dogecoin (-3%), Cardano (-1.6%), Tron (-2%), Avalanche (-3.5%), Chainlink (-5.5%), Stellar (-2.7%), Hedera (-4.7%), Sui (-6%), and Shiba Inu (-5%) also saw declines.

The global cryptocurrency market capitalization fell 1.53% over the past 24 hours to approximately $3.47 trillion. Stablecoins now account for 90.26% of the total 24-hour crypto market volume, at $101.94 billion.

Bitcoin’s market cap dropped to $2.025 trillion, and its 24-hour volume decreased by 47.93% to $42.93 billion.

Also Read: Union Budget 2025: The perfect moment to explore the VDA opportunity

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)