The cryptocurrency market has shown subtle strength over the past 24 hours, with the global market cap inching up by 0.69% to $2.68 trillion. Trading activity picked up, with total volume rising 10.35% to reach $98.18 billion. Despite the recovery, the Fear & Greed Index dropped to 27, placing the market in the “Fear” zone.
Fed Chair Powell Flags Economic Concerns
In a policy statement, U.S. Federal Reserve Chair Jerome Powell addressed the economic impact of tariffs proposed by Donald Trump. Powell warned that these tariffs could lead to increased inflation and unemployment, along with slowing overall economic growth.
He emphasized that it’s still “too soon” to consider altering U.S. monetary policy. This hints that interest rate cuts are not on the horizon just yet, as the Fed maintains its stance to steer inflation back to its 2% target. The current benchmark interest rate remains between 4.25% and 4.50%.
Bitcoin Grips $83k, Altcoins Show Mixed Signals
Bitcoin continues to exhibit strength, hovering above the $83,000 mark and contributing to a market dominance of over 60%. Ethereum, XRP, and Solana followed suit with modest upticks of 0.46%, 3.16%, and 3.97%, respectively. However, the broader altcoin market posted a mixed performance with some significant winners and losers.
Read our Bitcoin Price Prediction 2025, 2026-2030 for an overview of BTC’s future price!
Top Gainers:
Among the best performers, OKB jumped by nearly 9%, showing strong investor interest in exchange-native tokens. Meme favorite PEPE gained over 4%, fueled by renewed speculative energy. Sonic also recorded a similar rise, attracting short-term traders looking for quick gains.
Top Losers:
On the downside, PI and JTO both suffered sharp 18.82% losses, marking them as the biggest decliners of the day. EOS also struggled, shedding almost 8% amid broader market uncertainty.
Stay tuned as we continue tracking macroeconomic factors and market sentiment shaping the digital asset space.
FAQs
The Fear & Greed Index has dropped to 27, indicating rising fear and cautious investor sentiment.
OKB, PEPE, and Sonic were the top gainers in the past 24 hours, showing strong short-term momentum.
Jerome Powell warned that Trump’s proposed tariffs could increase inflation and unemployment, but also mentioned that it’s too early to revise the monetary policy.
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