๐ #Market_Update
The global crypto market slipped -1.39% in the last 24 hours, though it still holds a +4.26% gain on the week. This pullback appears to be a healthy pause within the broader uptrend, driven by three main factors:
โ Profit-taking after gains โ The strong 7-day rally (+4.26%) encouraged short-term traders to lock in profits.
โ Fed rate cut anticipation โ With 97% odds of a 0.25% cut at Wednesdayโs FOMC, traders trimmed risk exposure ahead of the decision.
โ Derivatives rebalancing โ Perpetual futures volume dropped 27%, while open interest climbed 14%, suggesting cooling speculative leverage.
๐ Overall, the dip seems more like a reset than a reversal. Market participants are positioning cautiously before the Fed outcome, while underlying sentiment remains constructive.
๐ If the Fed delivers as expected, we may see Bitcoin dominance strengthen and fresh momentum across major altcoins in the days ahead.