WASHINGTON (dpa-AFX) - Cryptocurrencies are trading on a mixed note as markets digest the Fed's latest warnings about inflation, growth and interest rates. The tense geopolitical situation and fears of a full-fledged war in the Middle East also swayed market sentiment.
The Federal Open Markets Committee on Wednesday maintained the target range for the federal funds rate at 4.25 to 4.50 percent and simultaneously warned about stickier inflation and slower growth. It also acknowledged that uncertainty about the economic outlook has diminished but remains elevated. The Fed anticipates the Federal funds rate to fall to 3.9 percent in 2025, implying two more rate cuts in 2025.
In the Summary of Economic Projections, the Fed lowered the GDP growth projection for 2025 to 1.4 percent from 1.7 percent made in March. The unemployment rate projection has been raised to 4.5 percent in 2025. In March, the Fed had projected a level of 4.4 percent. The Fed anticipates PCE inflation to rise to 3 percent in 2025 from 2.7 percent projected earlier. Core PCE inflation is also seen rising to 3.1 percent from 2.8 percent projected in March.
Overall crypto market capitalization has edged up 0.12 percent in the past 24 hours. It is currently at $3.26 trillion. Close to 40 percent of the top 100 cryptocurrencies are trading with overnight gains of more than a percent. The 24-hour trading volume has however decreased more than 7 percent overnight to $110 billion.
Bitcoin edged up 0.25 percent overnight to trade at $104,963. It is currently trading 6 percent below the all-time-high of $111,970 recorded on May 22. The original cryptocurrency traded between $105,330 and $103,602 during the past 24 hours. The leading cryptocurrency is trading with losses of 2.5 percent over the 7-day horizon and 0.4 percent over the 30-day horizon. Year-to-date gains are a little less than 13 percent.
Ethereum edged up 0.15 percent overnight to trade at $2,531. Ether has however shed 8.2 percent in the past week. Losses in 2025 are a little more than 24 percent. Ether's current trading price is 48 percent below its all-time-high. The 24-hour trading range was between $2,547 and $2,469.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $388 million on Wednesday versus $217 million on Tuesday. iShares Bitcoin Trust (IBIT) topped with inflows of $279 million.
Ethereum-based Spot ETF products witnessed inflows of $19 million on Wednesday versus inflows of $11 million a day earlier.
4th ranked XRP gained 0.34 percent overnight to trade at $2.16, around 44 percent below the all-time high.
5th ranked BNB also shed 0.64 percent overnight at its current trading price of $645.
The price of 6th ranked Solana slipped 1.2 percent overnight to $145.79.
8th ranked TRON gained 0.86 percent overnight and is currently changing hands at $0.2748.
9th ranked Dogecoin edged up 0.23 percent overnight to trade at $0.1703. DOGE is currently trading 77 percent below the record high.
10th ranked Cardano slipped 1.68 percent overnight to trade at $0.6016. The trading price is 81 percent below the cryptocurrency's all-time high.
82nd ranked Aerodrome Finance (AERO) topped overnight gains among the top 100 cryptocurrencies with an overnight surge of 15.5 percent. 100th ranked Raydium (RAY) followed with gains of 9.4 percent.
85th ranked Story (IP) topped overnight losses among the top 100 cryptocurrencies with a decline of close to 16 percent. 11th ranked Hyperliquid (HYPE) followed with losses of 6.1 percent.
For More Cryptocurrency News, visit rttnews.com
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
