Cryptos Rise While Markets Wait For FOMC

WASHINGTON (dpa-AFX) - Overall cryptocurrency market capitalization added more than half a percent in the past 24 hours while global markets wait for the Fed's decision on interest rates. With the Fed widely expected to hold rates steady, sentiment in the cryptocurrency market remains broadly positive. More than 30 of the top 100 cryptocurrencies rallied more than a percent whereas only 15 lost more than a percent.All eyes would now be on the Fed's forward guidance if any. The last FOMC of the year is scheduled for December 9. The CME FedWatch tool that tracks the expectations of interest rate traders currently shows the likelihood of a quarter-percent rate hike in December at 76.5 percent. The probability of rates remaining at the current level is 15.7 percent whereas the likelihood of rates being raised to the 4.25-4.5 percent level is 7.8 percent. Markets would also be keenly watching whether the Fed's decision is unanimous or marked by dissent.Meanwhile, the Wall Street indexes are trading in positive territory. The six-currency Dollar Index is hovering close to the flatline whereas both the crude oil price benchmarks have added more than a percent. At the same time, sovereign bond yields are trading in a mixed fashion.Aggregate crypto liquidations during the 24-hour period stood at $195 million. Liquidation of long positions amounted to $55 million, way below the liquidation of short positions which amounted to $141 million.In the above backdrop, overall cryptocurrency market capitalization has gained 0.79 percent to $2.7 trillion. The rally is accompanied by a 1-percent increase in trading volumes.Bitcoin (BTC), the largest cryptocurrency is currently trading 0.96 percent higher on an overnight basis at $80,647.93. Bitcoin is saddled with losses of 3.3 percent in the past 30 days, and 9.1 percent in the year-to-date period.Bitcoin Spot ETF products in the U.S. witnessed an increase in net inflows on Tuesday, recording $176 million, versus $110 million a day earlier. Market leader iShares Bitcoin Trust ETF (IBIT) topped with net inflows of $152 million.Bitcoin is currently in the 12th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. The leading cryptocurrency is positioned between 11th ranked Broadcom and 13th ranked Meta Platforms.Ethereum (ETH) has added 0.68 percent overnight to $2,334.67. The leading alternate coin has however lost 5.3 percent in the past week.Ethereum Spot ETF products in the U.S. witnessed net outflows declining to $60 million on Tuesday from $89 million on Monday. iShares Ethereum Trust ETF (ETHA) topped with net outflows of $93 million.Ethereum is currently ranked 65th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.4th ranked BNB (BNB) rallied 1.2 percent overnight resulting in price increasing to $749.84.5th ranked XRP (XRP), a payments-focused cryptocurrency rallied 0.6 percent overnight and is currently trading at $1.31.The price of 7th ranked Solana (SOL) gained 1 percent overnight to $101.07. U.S.-listed Solana Spot ETF products witnessed net outflows increasing to $19 million on Tuesday from $8 million on Monday. Grayscale Solana Staking ETF (GSOL) accounted for the entire outflows.TRON (TRX) ranked 8th overall is currently trading 1.1 percent higher at $0.3315.9th ranked Zcash (ZEC) jumped 1.8 percent overnight and the cryptocurrency is currently trading at $1,284.96. U.S.-listed Zcash Spot ETF products witnessed net inflows rising to $4 million on Tuesday from $2 million on Monday.10th ranked Hyperliquid (HYPE) rallied 1.7 percent on an overnight basis to $80.12. U.S.-listed Hyperliquid Spot ETF products witnessed nil flows on Tuesday versus net outflows of $4 million on Monday.For More Cryptocurrency News, visit rttnews.comCopyright(c) 2026 RTTNews.com. All Rights ReservedCopyright RTT News/dpa-AFX