Crypto Market Holds Steady Ahead of Fed Minutes ReleaseBitcoin and Ethereum traded in a narrow range as traders awaited the release of the minutes from the US central bank's September meeting. The crypto market was subdued on Wednesday morning ahead of the release of the minutes from the Fed's last meeting, which are expected to provide insights into future interest rate policy
Crypto Market Holds Steady Ahead of Fed Minutes Release
Bitcoin and Ethereum traded in a narrow range as traders awaited the release of the minutes from the US central bank's September meeting. The crypto market was subdued on Wednesday morning ahead of the release of the minutes from the Fed's last meeting, which are expected to provide insights into future interest rate policy. Bitcoin and Ethereum traded within a narrow range, hovering around $62,000 and $3,450 respectively. Solana and Polkadot fell 1%.
Most of the top 100 digital assets by market capitalization saw slight declines, while Aerodrome was the day's biggest winner, gaining 6% in the past 24 hours. Bittensor, Sei, and Kaspa were the biggest losers, dropping between 5% and 7%.
After a week of gains, the market lost steam yesterday as China's monetary stimulus measures failed to meet expectations. Traders are now looking to the US, where the Fed minutes are due to be released later today, along with the closely watched September consumer price index (CPI) on Friday.
Bitcoin ETFs saw small outflows on Tuesday, totaling $18.6 million, primarily driven by Fidelity's FBTC, which shed nearly $49 million in assets. However, Blackrock's IBIT attracted $40 million in inflows, partially offsetting this impact.
Meanwhile, US stocks rose, with the S&P 500 and Nasdaq both advancing 0.6%.
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