Crypto Market Adjusts as Fed Decision Looms
This week, cryptocurrency prices have seen a slight dip as investors await the Federal Reserve’s interest rate decision on Wednesday. bitcoin has retreated from its recent peak of $97,000 to $93,700. Ethereum is also under pressure, staying below $2,000. The total crypto market cap now stands at $2.9 trillion,with the fear and greed index showing a neutral sentiment.
Despite the pullback, there are signs of institutional interest.Spot Bitcoin ETFs have seen a $5 billion increase in assets over two weeks, indicating ongoing demand. Analysts and traders on Polymarket predict three rate cuts this year, which could boost Bitcoin and altcoins.
among the top picks for investors are Polkadot (DOT),Chainlink (LINK),Uniswap (UNI),and Sonic (S). Polkadot is near its all-time low, but it shows resilience. It has a strong support level at $3.82, suggesting a potential rebound. If the Fed adopts a more lenient stance, it might very well be good news for the market. Polkadot’s price could surge by 200% if current patterns hold. Its staking yield of 11.5% and the possibility of a spot DOT ETF could drive its price up. Chainlink is another promising option. It’s the largest oracle network, linking real-world data to blockchains. Its Cross-Chain Interoperability Protocol is leading in Real World Asset tokenization. Chainlink’s daily chart shows a falling wedge, a bullish signal. Uniswap,the leading decentralized exchange,has handled $51 billion in transactions,more than PancakeSwap’s $30 billion. uniswap’s Unichain layer-2 network has processed $4.2 billion in assets, surpassing networks like Avalanche and Cronos.
Chainlink’s daily chart hints at a bullish trend. Uniswap’s Unichain is gaining traction, handling over $4.2 billion in assets. Sonic, formerly Fantom, is also on the rise.It supports 69 decentralized apps with a total value locked at $1 billion. Sonic’s four-hour chart suggests a potential price jump. Its inverse head and shoulders pattern points to a bullish future. Sonic’s price could rise as it attracts more users and dApps. Its four-hour chart indicates a strong upside. Sonic’s price could climb if its pattern plays out. Sonic’s four-hour chart shows a bullish outlook. Sonic’s price could climb if its pattern plays out.
Polkadot’s price could soar if its pattern holds. Sonic’s price could rise if its pattern holds. These factors make it a top pick.
