Ahead of Powell: Crypto Chooses Safe Mode
Bitcoin remained hovering below the $90,000 area on Tuesday (January 27th). Its movement tended to be sideways, as market participants remained cautious ahead of the Fed's policy decision and were reluctant to take major risks.
In the latest update, BTC was around $89,030, up +1.33% from the previous close. Despite strengthening, its momentum hasn't yet shown the explosive momentum seen in safe-haven asset rallies.
The contrast is stark: while gold and silver are rallying due to hedging demand, crypto is actually more of a wait-and-see approach. Investors are still assessing whether liquidity conditions and the direction of interest rates will be sufficiently supportive of risk assets in the near term.
The market's primary focus now is on the Fed meeting and, in particular, the tone of Jerome Powell's press conference. Although interest rates are expected to remain on hold, even the slightest change in tone can shift risk appetite—and this is usually immediately reflected in crypto movements.
In altcoins, movement also tended to be limited. ETH rose to $3,008.61 (+3.15%), while XRP was at $1.92 (+1.05%). SOL strengthened to $126.47 (+1.97%) and ADA to $0.3582 (+1.52%). DOGE also rose to $0.12537 (+2.66%).
Source: Newsmaker.id
