The crypto market is treading water on October 29 as investors await the Federal Open Market Committee (FOMC) rate decision — a moment that could redefine short-term momentum across digital assets. Prediction platform Polymarket now places 98% odds on a 25-basis-point rate cut, reflecting near-unanimous market conviction that the Federal Reserve is ready to loosen monetary conditions.
Bitcoin (BTC) trades around $113,000, showing limited volatility ahead of the announcement, while Ethereum (ETH) holds near $4,000. Solana (SOL) is up 1.8% at $199, and XRP trades steady at $2.69, as traders adopt a wait-and-see stance.
Analysts suggest that a dovish outcome could trigger a relief rally across risk assets, potentially pushing Bitcoin toward $117,000 and lifting leading altcoins by 3–5% in the short term. However, any hint of hawkish commentary or hesitation to commit to further easing could quickly reverse gains, especially given elevated leverage and thin liquidity conditions across exchanges.
The Crypto Fear & Greed Index sits at 51 (Neutral), indicating a fragile balance between optimism and caution. With inflation moderating and markets anticipating a friendlier policy tone, traders are eyeing Powell’s press conference for clarity on the Fed’s longer-term stance.
Stay tuned for live updates and price reactions as the FOMC decision unfolds and crypto markets respond in real time.
Bitcoin & Ethereum Live Update – How Did Market React?
The post [LIVE] Crypto Price Tracker: Is the Fed’s 98% Likely October 29 Rate Cut the Catalyst Crypto Has Been Waiting For? appeared first on Cryptonews.
