Crypto market trades steady as Bitcoin and Ethereum gain ahead of the US Fed’s final policy announcement of the year.
Bitcoin trades steady amidst thin liquidity as traders await cues from the Federal Reserve
Photo Credit: Unsplash/Jakub Żerdzicki
Bitcoin's price consolidated around $92,500 (roughly Rs. 83.1 lakh) on Wednesday as crypto traders remained focused on the US Federal Reserve's rate decision, which is expected on December 11 at 12:30am IST. The asset briefly reclaimed the $94,000 (roughly Rs. 84.5 lakh) level earlier in the day before cooling slightly, supported by renewed whale accumulation and tightening supply conditions. Ethereum (ETH) traded at $3,300 (roughly Rs. 2.98 lakh). Bitcoin is priced around Rs. 83.2 lakh in India, while Ethereum trades near Rs. 2.98 lakh, as per the Gadgets 360 tracker.
Altcoins saw a positive move in the last 24 hours. Solana (SOL) traded at $138 (roughly Rs. 12,470), XRP was priced at $2.08 (roughly Rs. 186), and Binance Coin (BNB) hovered near $890 (roughly Rs. 80,000). Dogecoin (DOGE) touched $0.14(roughly Rs. 12.5).
Akshat Siddhant, Lead Quant Analyst, Mudrex, said tightening supply and whale activity continue to support Bitcoin's structure. “Over 403,000 BTC leaving exchanges this week has tightened supply, making prices more sensitive to renewed demand. Although a 25bps cut is widely expected, markets are more focused on the Fed's guidance for 2026.”
Riya Sehgal, Research Analyst, Delta Exchange, said traders are preparing for renewed volatility depending on the Fed's stance. “Ethereum's rally is being driven by institutional accumulation and declining exchange reserves, as only 8.7 percent of ETH now sits on exchanges and staking inflows exceed 40,000 ETH daily [...] Liquidity remains thin, if the Fed delivers a dovish signal, it could trigger a liquidity-driven rally across crypto market.”
Bitcoin's current range, analysts say, reflects a market waiting for policy clarity, while being supported by a tightening supply, institutional positioning, and improving sentiment. A move above $94,000–$95,000 (roughly Rs. 84.6 lakh–Rs. 85.2 lakh) could open the door for stronger upside, while failure to hold $90,000 (roughly Rs. 80.8 lakh) may keep volatility elevated in the near term.
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