The BTC and the ETH remain stable at $ 104,000 and 2,500, respectively, despite the geopolitical tensions and the rise in power.
The cryptocurrency market experienced few movements on Wednesday while the American federal reserve held stable interest rates, as expected.
Bitcoin (BTC) is stable at around $ 104,000, while Ethereum (ETH) is up 0.7% to $ 2,488. XRP is stable at $ 2.15 and Solana (soil) is down by almost 1% to $ 145.
The total market capitalization of the cryptocurrency dropped by 2% over the day to 3.35 billions of dollars, while the liquidations with leverage totaled $ 224 million, according to Coinglass. ETH represented $ 67 million, while BTC followed with $ 45 million. Altcoins has contributed to nearly $ 35 million in liquidations.
US Spot Bitcoin Traded Funds (ETF) recorded $ 216 million on June 17. Meanwhile, Spot ETH ETF reported $ 11 million, according to Sosovalue data.
Experts claim that the deaf reaction reflects the prudence of investors after the widely awaited decision of the federal reserve to leave unchanged interest rates, as they expect clearer macroeconomic signals.
The American central bank held stable interest rates of 4.25% to 4.5%, maintaining its cautious position. Meanwhile, officials are divided on the question of whether the cuts will occur later this year, reported the New York Times.
Earlier in the day, President Donald Trump predicted that the Fed would not reduce interest rates and only slammed the president of the Fed, Jerome Powell, as “stupid”, continuing her criticism of Powell for years.
“So we have a stupid person. Frankly, you will probably not cut today,” said Trump just outside the White House, by CNBC. “Europe has had 10 cuts, and we did not have one. And I suppose it is a political guy, I don’t know. He is a political guy who is not an intelligent person, but he costs a fortune in the country.”
The president has been vocal for months that the Fed reduces interest rates by at least two percentage points.
“The markets generally do not like surprises – but recently, the crypto does not seem to react a lot,” said Ray Youssef, CEO of noons. “During last week, we saw a major hack targeting Iran’s greatest crypto exchange, growing tensions in the Middle East, and even signs of digital war. However, cryptography prices have barely evolved.”
Youssef explained that Bitcoin remains stuck in a narrow range nearly $ 105,000, with daily volatility of less than 2.1% and no sale of generalized panic.
“The biggest geopolitical image is not getting cooler,” he said. “The Strait of Hormuz, where 21 million barrels of oil flow every day, is under the spotlight, and there are signals suggesting a naval involvement, so that traditional markets keep an eye on oil – Brent recently reached $ 72 per barrel.”
He also warned that ignorance of macro-macro risks will not make them disappear. “If geopolitical tensions intensify or start to have an impact on the financial system – by sanctions, infrastructure disturbances or capital controls – the cryptography market will not be isolated,” said Youssef. “The domination of bitcoin is already approaching 66%, and that signals have reduced risk appetites for altcoins in the current environment.”
