Cryptocurrency Market Stays Range-Bound Ahead of US Fed Decision

The global cryptocurrency market continues to exhibit caution ahead of the upcoming US Federal Reserve's rate decision, scheduled for this week. According to recent market data, Bitcoin (BTC) has been trading near $77,300, experiencing a modest increase of 0.3% over the past 24 hours.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, was observed trading near $2,300, reflecting a relatively stable but restrained movement across the broader crypto market. The world's largest cryptocurrency is currently priced around Rs. 73 lakh in India, while Ethereum trades near Rs. 2.21 lakh.

A key factor contributing to the cautious sentiment in the market is the softening of institutional sentiment, as evidenced by outflows from spot Bitcoin ETFs totaling $263 million (approximately Rs. 2,492 crore). This development has led analysts to reassess their expectations for potential price movements.