Major cryptocurrencies are mostly trading higher today, with strong gains for Bitcoin, Ethereum, and most top altcoins.
The market rally came ahead of the Federal Reserve's policy update, which is expected to include another rate cut.
Analysts warn that long-term trends depend on economic data, regulatory clarity, and policies from the Trump administration.
Crypto prices today showed widespread optimism, with most top digital assets in the green. Ahead of the upcoming Federal Reserve decision, Bitcoin, Ethereum, and a number of leading altcoins logged solid gains. Market watchers turned their focus to shifting macro-economic trends and year-end volatility signals. Here’s what happened with the crypto prices today based on CoinMarketCap data.
Bitcoin price was up 3.09% to $92,559.73. This rally has been mirrored in the entire market and jacked up large-cap and mid-cap tokens. CoinSwitch Markets Desk noted, “BTC broke above $94,000 after an extended consolidation phase, driven by concentrated whale inflows and a short-squeeze dynamic. The move was followed by a mild pullback toward $93,000, suggesting profit-taking ahead of the Federal Reserve’s expected 25 bps rate cut tomorrow.”
According to CoinSwitch analysts, “Looser financial conditions could support renewed risk appetite, with BTC holding key support near $93,000 and upside opening above $94,500. A strong breakout could target $95,000-$97,000 post-FOMC. ETH also crossed $3,300 with BlackRock filing for the iShares Ethereum Staking Trust, boosting institutional interest. The ETH/BTC ratio has reached its strongest level since late October, signaling rotation into Ether.”
Of the majors, Ethereum price jumped 6.83% to $3,317.74. Cardano saw the largest gain, soaring 8.04% to $0.4635. Solana price increased by 4.60% to $139.29 and Dogecoin added 4.55% to $0.1472. Meanwhile, XRP price was up by 1.53% to $2.08, extending recent strength. TRON also rose 0.07% to $0.2815 but remained in the top ten by market capitalization. The CMC20 Index, which tracks the top 20 cryptocurrencies, rose 3.15% to $197.02.
The stablecoin market stood firm, seeing Tether change hands at $1.00 on a market capitalization of $185.7 billion, while USD Coin also stood still at the same price with $78.5 billion in circulation. BNB was one of the few tokens that showed very little movement, losing just 0.03% to fall to $891.89.
Also Read: Crypto Prices Today: Bitcoin Price Stuck at $89,929, XRP Trades at $2.05 as Ethereum Slips to $3,108
While crypto prices today move in positive territory, Bitcoin price is still down 2% for the year. It is a pace for its worst annual performance since 2022, when it lost more than 64% of its value. The top cryptocurrency has failed to keep pace with rebounds in traditional markets, with the S&P 500 up 16% year-to-date.
It has been a wild ride this year for Bitcoin. Following an initial euphoria immediately after Donald Trump's election victory, the market crashed in April when he announced new tariffs. The rebound to an all-time high near $126,000 in early October ended days later when Trump threatened export controls on critical software.
That October selloff triggered more than $19 billion in leveraged liquidations-the largest in crypto history. Bitcoin has yet to recover from those losses, leaving many investors cautious about its near-term prospects.
Here are the top headlines impacting crypto prices today.
Improvement in crypto prices today came amidst market anticipation of the policy announcement from the Federal Reserve on Dec 10, which most traders widely expect will see the central bank cut interest rates by 25 basis points for a third consecutive month.
Recent economic data supported the case for easing. Job openings held steady at 7.7 million in October, beating expectations. The JOLTS report also showed 5.1 million hires and 5.1 million separations, pointing to a gradually cooling labor market.
Still, CME FedWatch and Polymarket data both suggest expectations are increasing that Fed Chair Jerome Powell may indicate a halt in rate cuts for the start of 2025. Investors are concerned the central bank may reassess its easing pace to contain inflation risks and that might spill over to risk assets, such as cryptocurrencies.
Analysts point to shifting fundamentals and reduced buying pressure. Recently, Standard Chartered's head of digital assets Geoff Kendrick cut his Bitcoin price forecast to $100,000 from $200,000 for year-end. In a note titled ‘Not a crypto winter, just a cold breeze,’ he said companies that hold Bitcoin on their balance sheet have constraints.
Most of these digital-asset treasury companies currently trade at below the value of the Bitcoin they own, making it more challenging to raise money for additional purchases. Kendrick said the bull case is mainly dependent on ETF buying rather than corporate accumulation. The entrepreneur also cut his 2026 target to $150,000 from $300,000 and pushed his $500,000 projection out to 2030 from earlier years.
Also Read: Bitcoin News Today: BTC Faces Year-End Pressure After October Crash and Weak Retail Inflows
Markets also expect another big move when President Trump names a replacement for Powell, whose term is set to expire in May. The wider crypto market is cautiously optimistic, but uncertainty remains. By the next move from the Federal Reserve, expectations of changing inflation, and continued policy signals by the Trump administration, traders should be prepared for further volatility. Short-term rallies may continue, but longer-term trends would be highly dependent on economic data and regulatory clarity.
1. Why are crypto prices up today?
Crypto prices rose today amid expectations of a continued rate cut by the Federal Reserve. Typically, lower rates allow risk assets such as cryptocurrencies to rally. Positive economic data and the strong performance of altcoins were among the factors that improved market sentiment.
2. Why is Bitcoin still down for the year?
Bitcoin is still down on the year, as it has seen several sharp drops tied to policy announcements, tariff news, and concerns over global markets. Despite rallying at times, major selloffs in April and October erased much of its gains.
3. Which cryptocurrencies performed the best today?
Cardano surged the most, up 8%, while Solana and Dogecoin made solid gains; Ethereum rose nearly 7% and XRP continued its steady climb. Most large-cap tokens traded in the green today.
4. How are analysts viewing Bitcoin's future?
Some analysts are more cautious. Standard Chartered trimmed its targets for Bitcoin, citing limitations for companies that already own Bitcoin as to how much more they can purchase. They think future growth will have to come more from ETF inflows rather than corporate purchases.
5. What should traders watch next?
The upcoming Federal Reserve statement, fresh inflation updates, and comments from the Trump administration are factors for traders to watch. This might continue setting short-term volatility or long-term direction for the entire crypto market.
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