BTC, ETH, SOL price news: Cryptos inch higher ahead of Fed, Mag 7 earnings and weaker dollar
Cryptocurrency prices, including BTC, ETH, and SOL, moved slightly higher as markets awaited key signals from the Federal Reserve, megacap earnings, and a weaker dollar.Summary
Bitcoin hovered near $89,000, Ether rose about 2% to under $3,000, and other major tokens saw modest gains as traders adopted a cautious stance ahead of major economic events. This calm in crypto mirrored gains in global stocks, which were boosted by AI optimism and upcoming earnings from the 'Magnificent Seven.' The U.S. dollar weakened to its lowest level since early 2022, which analysts noted lowered the opportunity cost for holding risk assets like BTC. However, crypto has lagged behind the rallies seen in gold and silver. Traders are focused on whether the expected Federal Reserve pause will support risk assets or if inflation guidance will cause a market reset, while the tech earnings reports are expected to test confidence in the equity rally that has recently drawn capital away from crypto.
(Source：CoinDesk)