Trading Desk Insights
Crypto markets remain steady as Bitcoin trades just below the $89K level, holding within the broader $86K to $90K range after a choppy start to the week. Ethereum is hovering just under $3K, while SOL and other majors post modest gains. Price action remains contained, reflecting a market in wait-and-see mode ahead of the Federal Reserve decision and a heavy slate of macro and earnings catalysts.
Broader risk sentiment has improved, with global equities pushing to record highs led by technology stocks and continued optimism around AI spending. A weaker U.S. dollar has supported risk assets more broadly, though crypto continues to lag precious metals, with gold and silver capturing the bulk of the dollar-weakness trade.
Dollar softness has eased pressure on crypto positioning. The dollar index slipping to its weakest levels since early 2022 lowered the opportunity cost of holding BTC and helped stabilize price action after Bitcoin successfully defended the $86K–$87K zone. That move appears to have flushed excess leverage through long liquidations, contributing to a more stable short-term market structure rather than igniting fresh upside momentum.
Attention now turns squarely to the Fed. Markets largely expect a pause, but guidance around inflation and the future path of rates will be key in determining whether the recent bid in risk assets can extend. In parallel, earnings from the Magnificent Seven are set to test the equity rally that has drawn capital away from crypto in recent months.
For now, crypto continues to consolidate rather than chase broader risk strength. The tone suggests stabilization over acceleration, with traders positioned defensively as macro events stack up. Until clearer signals emerge from the Fed and earnings, markets are likely to remain range bound, headline driven, and selective.
Crypto Charts
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Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
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