Leading cryptocurrency tokens saw an increase in trade on Tuesday ahead of tomorrow’s US Federal Reserve policy announcement.

Ethereum was up 1.8% at $2,305, while Bitcoin was up 1.94% at $43,409. In the meantime, the value of the world’s cryptocurrency market increased 2.3% in the previous day to approximately $1.67 trillion.

Significant occurrences like the US January unemployment rate statistics and the Fed’s interest rate decision might have an impact on market sentiment in the following days.

In the tug-of-war between the bull and bear that has been going on for the past few weeks, the bull may eventually win if the rate decrease that is widely expected is ultimately revealed.

With fresh bullish wagers and fading grayscale selling pressure, bitcoin surged beyond $43,000 amid an optimistic mood. Reduced Bitcoin transfers to exchanges by Grayscale and predictions of new long positions above $43,000 point to a possible surge to yearly highs around $50,000.

Declining sales of GBTC, rising US stock markets, and Google’s backing for Bitcoin ETF ads are all positive indicators. The risk associated with the impending Fed meeting is that the US economy’s good data could postpone rate decreases, which would strengthen the US dollar and suppress the cryptocurrency markets.

The trade of other well-known cryptocurrencies increased today as well. Cardano and Solana had increases of 7.6% and6.5%, respectively. Dogecoin, Chainlink, Polygon, and Shiba Inu experienced a 2-3% increase. Avalanche, BNB, XRP, and Internet Computer all saw increases.

The largest cryptocurrency in the world, Bitcoin, had its market capitalization increase to $850 billion in the past day. Currently, 51.15% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 42% to $22.4 billion in the last day.

For Bitcoin to keep moving in the direction of $45,000, it must first breach and hold $43,500. In the coming days, we expect a rise, with Bitcoin reaching above $44,000 during this surge.

After breaking above the trend line support at $38,500, Bitcoin has been steadily rising over the past week, earning almost 12% during this time. Analysts have been speculating that this shift is mostly because they expect the Fed to stick with its rate pause, which is set to be announced this coming week.

In Monday’s trade, there was a mixed bag of unfavourable sentiment surrounding the crypto coins. XRP, BNB, Cardano, Dogecoin, Polygon, and Toncoin were trading in the green, while Bitcoin, Ethereum, Solana, Polkadot, and Tron were trading in the red.

In the meantime, the value of the world’s cryptocurrency market fell by 0.14% to approximately $1.32 trillion over the previous day.

Bitcoin was down 0.6% at $34,915, while Ethereum was trading below $1,900. Over 9% jumped in XRP.

In the last day, the price of Bitcoin has been circling around $35,000. This volatility can be explained by traders selling their Bitcoin gains and reinvesting the proceeds in altcoins. An additional possible contributing reason would be the United States’ announcement of a 150,000 job increase in October, which was less than the 180,000 economists had forecast and a decrease from the 297,000 jobs reported in September.

Meanwhile, the US Federal Reserve’s rate hold has spurred a rally in key cryptocurrency tokens during the past week. Ethereum increased by 5%, whereas Bitcoin increased by over 2%. Over 17% was gained by XRP, Solana, and Cardano.

The crypto fear and greed index increased 4 points from yesterday to be within the greed zone with a score of 74/100, indicating that investor mood has improved following the recent rally from last week. Although the current price surge may appear fleeting, market watchers are observing indications of long-term demand fueling the cryptocurrency upswing.

Currently, DeFi’s total volume is $4.31 billion, or 11.28% of the 24-hour volume of the entire cryptocurrency market. At $32.74 billion, the total value of stablecoins represents 85.76% of the 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, had a fall in market capitalization to $682 billion in the past day. Currently, 51.8% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 29% to $12.4 billion in the last day.

The dominance of BTC decreased by more than 1.5%, suggesting chances for altcoins to flourish. Support has also been discovered for ETH dominance, which may indicate a resurgence.

Bitcoin experienced some profit booking as it fell more than 1% but held above 34,000 levels, while Ethereum fell about 2% but remained around $1,800.

Bitcoin and other cryptocurrencies fell early Wednesday when the ticker for BlackRock’s (BLK) spot bitcoin ETF – IBTC – was withdrawn from the Depository Trust & Clearing Corporation’s (DTCC) website, only to be reinstated later. However, profiting from impulsive crypto purchases is nothing new.

After a strong secular rally, Bitcoin saw some profit booking as the largest crypto token fell more than 1% but managed to stay around 34,000-levels. However, its largest peer, Ethereum, fell nearly 2% but remained below the $1,800 mark. The majority of altcoins were trading at a loss.

Following the sudden debut of BlackRock’s spot bitcoin ETF (IBTC) ticker on the US Depository Trust & Clearing Corporation’s website, Bitcoin’s value recently crossed the $35,000 mark. However, despite the ticker’s brief removal and reappearance, prices have returned to about $34,000 in the last 24 hours.

This positive momentum could also be attributed to Grayscale’s legal victory over the US Securities and Exchange Commission, as the DC Circuit Court of Appeals ordered the SEC to reexamine its denial of Grayscale’s spot bitcoin ETF application. These combined considerations have fueled market players’ excitement regarding the anticipated approval of Bitcoin spot ETF applications.

The bulk of popular crypto coins were trading down on Wednesday, with a few outliers. Dogecoin and Polkadot were both down more than 3%, while Toncoin, Polygon, Solana, and BNB were all down 2%. Among the gainers, Chainlink gained more than 11%, while XRP gained nearly 1%.

The worldwide cryptocurrency market cap was trading much lower, down to $1.25 trillion, after losing approximately 1% in the previous 24 hours. However, total trade volumes fell by more than 13% to $69.61 billion.

Bitcoin (BTC) and Ethereum (ETH) have both fallen in value during the last 24 hours, which could be attributed to the temporary removal of BlackRock’s (BLK) spot Bitcoin ETF ticker, IBTC, from the Depository Trust & Clearing Corporation’s (DTCC) website. It’s worth noting, however, that the ticker was relisted after a few hours.

Both BTC and ETH are currently trading above the 50-day and 200-day Exponential Moving Averages (EMA-D) and are consolidating after their recent upward trend. While ETH must pass a few resistance levels before it can resume its climb, BTC is displaying strength by reaching a 52-week high.