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BTC, ETH, SOL move higher as markets eye Fed
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BTC, ETH, SOL move higher as markets eye Fed
BTC, ETH, SOL move higher as markets eye Fed, Mag 7 earnings and weaker dollar
6 min read
BTC, ETH, SOL move higher as markets eye Fed, Mag 7 earnings and weaker dollar
Crypto prices steadied as traders looked past short-term volatility with positioning shifting to the Fed, megacap earnings and a weakening dollar.
By Shaurya Malwa
Jan 28, 2026, 6:44 a.m.
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What to know:
- Bitcoin hovered just below $89,000 in Asian trading, posting modest gains in a narrow range as traders awaited a key Federal Reserve decision.
- A weaker U.S. dollar and record-setting global equity markets, led by technology shares and AI optimism, have supported risk assets but crypto has lagged metals like gold and silver.
- Analysts say bitcoin's rebound from the $86,000–$87,000 zone reflects reduced leverage and short-term stabilization rather than strong momentum as markets brace for Fed guidance and major tech earnings.
Bitcoin hovered near $89,000 on Wednesday as broader markets pushed higher and the U.S. dollar remained under pressure ahead of a closely watched Federal Reserve decision later in the day.
The largest cryptocurrency was trading around $88,800 during Asia hours, up modestly on the day after a choppy start to the week. Ether rose about 2% to just under $3,000, while most major tokens posted small gains, according to CoinGecko data. Moves were measured rather than directional, reflecting a market waiting for clearer signals.
STORY CONTINUES BELOW
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The calmer tone in crypto mirrored a steadier backdrop elsewhere. Global stocks extended gains, with Asian equities hitting record highs and U.S. index futures pointing higher after the S&P 500 closed at a fresh peak on Tuesday. Technology shares led, helped by optimism around artificial intelligence spending and a heavy slate of megacap earnings due this week.
The dollar steadied after sliding to its weakest level since early 2022 earlier in the week, as investors weighed signals from the Trump administration that it is less concerned about a softer greenback. The weaker dollar has fueled strong rallies in gold and silver, but crypto has so far lagged that trade.
"The dollar index fell to around 95.5, its weakest level in nearly four years, lowering the opportunity cost of holding risk assets and supporting BTC’s rebound from below $88K to around $89.3K," market analysts at crypto exchange CoinSwitch said in an email. "Downside pressure eased after BTC traded into and held the $86K–$87K zone, where a dense cluster of leveraged long liquidations was likely triggered, reducing excess leverage and stabilizing short-term market structure."
Traders are watching whether a Fed pause — which markets largely expect — reinforces the recent bid in risk assets, or if guidance around inflation and rates prompts another reset.
At the same time, earnings from the so-called Magnificent Seven are expected to test confidence in the equity rally that has pulled capital away from crypto in recent months.
For now, bitcoin appears pinned in a narrow range, holding ground rather than chasing the broader risk move. That suggests stabilization, not momentum, as markets head into a dense stretch of macro events.
Lebih untuk Anda
Pudgy Penguins: A New Blueprint for Tokenized Culture
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
Yang perlu diketahui:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
View Full Report
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Here's how China's response to Trump tariffs silently rocks bitcoin
China’s exports remain resilient under U.S. tariffs as the yuan stays tightly managed, sending ripples all the way to the crypto market.
What to know:
- China has responded to U.S. tariffs by diversifying exports away from the United States and tightly managing the yuan, keeping its export engine resilient and its global market share rising.
- JPMorgan says Beijing’s low-volatility FX framework prioritizes a stable, range-bound yuan to preserve competitiveness and counter deflation, while effectively tying the currency’s moves to the dollar.
- This managed FX regime influences bitcoin indirectly through global dollar liquidity and tariff-driven macro cycles.
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