The crypto market is showing strong momentum. extending its upward trend over the past 24 hours after posting a 1.58% gain earlier this week. Total market capitalization has now climbed to $3.03 trillion reflecting renewed investor confidence.
What’s Driving the Rally?
Today’s surge comes as market participants closely watch the U.S.Federal Reserve’s FOMC meeting, scheduled for January ET followed by a press conference from Fed Chair Jerome Powell.
Investors are positioning ahead of potential signals on interest rate policy inflation outlook, and broader economic guidance. Any shift in tone from the Fed could significantly influence risk assets including cryptocurrencies.
As expectations build around monetary policy clarity crypto markets are responding with increased volatility and upside momentum. Other cryptocurrencies such as Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE) have also performed well in terms of rallies. Other XRP spot ETFs registered high net inflows of 9.16 million, which also helped in the advancement of the market sentiment.
