The crypto price chart reflected losses next to most assets on Wednesday with Bitcoin failing to reclaim the $70,000 price mark. The most expensive crypto asset dropped in price by under one percent in the last 24 hours. BTC was trading at $67,340 at the time of writing, data by CoinMarketCap showed.
Speaking to Coin Headlines, market analysts said Wednesday’s FOMC minutes will be key, as any dovish tone could improve liquidity expectations and support risk assets.
“Capital rotation into the AI sector has restarted debate over AI’s broader economic impact, leading to a risk-off mode. For now, $64,100 is emerging as an important support zone for BTC. A sustained move above $70,000 would signal renewed buyer confidence, opening doors towards $75,000 in the near term,” said Akshat Siddhant, Lead quant analyst, Mudrex.
Ether, as opposed to BTC, landed on the profit-making side of the crypto chart. The second most-expensive asset after BTC, ETH price rose by 0.82 percent to reach $1.983 on Wednesday.
Among crypto assets that registered losses, XRP joined BNB, Solana, Tron, Leo, and Hyperliquid with price drops of under two percent.
Meanwhile Dogecoin, Bitcoin Cash, Cardano, Monero, Chainlink, Stellar, and Zcash landed on the profit-making side of the price chart, CoinMarketCap showed.
The overall crypto market cap dipped by 0.37 percent in the last 24 hours. At present, the valuation of the market stands at $2.32 trillion.
“Macroeconomic dynamics continue to influence sentiment. Polymarket bettors assign a 93 percent probability that the Federal Reserve will hold rates steady in March, with only a seven percent chance of a 25-basis-point cut. In parallel, the Fed is expected to inject $16 billion into the economy this week, a move that could temporarily ease liquidity pressures but also reinforce volatility across both traditional and crypto markets,” Riya Sehgal, market analyst at Delta Exchange told Coin Headlines.
Nearly 84,000 traders were liquidated in the last 24 hours with the total liquidations hitting $218.3 million, CoinGlass data showed.