Crypto Market Update: Bitcoin Range-Bound as Algorand Surges

The global cryptocurrency market showed calm behavior on April 29, despite the release of the Federal Reserve's interest rate decision. Bitcoin traded near $78,402 after touching an intraday high of $78,963.

Market analysts note that the unchanged interest rates reduced one source of market stress, but uncertainty over future policy decisions kept traders cautious. Geopolitical tension also remained a key driver of market sentiment, with reports indicating Iran sent a revised peace proposal to the US.

XRP continued to trade near $1.39, staying within its established range. Ethereum held above the $2,300 level, while most large-cap altcoins moved within tight ranges.