While Bitcoin Stagnates, This Altcoin Surged 22%: Silently Waiting for the Fed
While the Bitcoin (BTC) price follows a horizontal course in the cryptocurrency market ahead of the Fed decision, altcoins led by Uniswap (UNI) have gained sharp upward momentum following positive forecasts from major banks and macroeconomic data.
As investors eagerly await the first interest rate decision under the U.S. Federal Reserve’s (Fed) new chair, a shift in capital from the leading cryptocurrency toward altcoins is being observed in the market. Bitcoin (BTC) has charted a calm graph at the 65,800 dollar levels over the last 24 hours, attempting to hold at the 66,000 dollar mark. This stagnation in the leading asset indicates that a general wait-and-see sentiment prevails throughout the market.
On the altcoin side, there is a literal leap taking place. Uniswap (UNI) gained 22.5% in value to reach the 3.53 dollar level, becoming the most talked-about asset of the day. This surge was influenced by Standard Chartered bank setting a target price of 100 dollars for UNI by 2030 and defining the project as the cornerstone of decentralized exchanges.
Enthusiasm in the Altcoin Market and Macroeconomic Balances
The market activity was not limited to UNI alone. Hyperliquid (HYPE) showed a 34.3% increase on a weekly basis, while Solana (SOL) gained 14.7% in value over a seven-day period. Ethereum (ETH) rose to the 1,793 dollar level, while XRP stabilized at the 1.22 dollar level. This general upward trend indicates that investors are moving confidently toward the peak in an environment where risk appetite is increasing.
On the macroeconomic front, the decline in oil prices is easing inflationary pressure. The fall of Brent crude oil prices below 79 dollars per barrel, combined with hopes for an agreement between the US and Iran, gave the markets a breather. The Fed’s stance on interest rates is being tracked as the most critical factor that will determine Bitcoin’s next move. The decline in oil prices and activity in the bond market are preparing a more supportive ground for crypto assets.