Synopsis: Crypto markets surge ahead of major central bank decisions and tech earnings. Bitcoin and XRP lead gains as traders eye Fed rate cuts, BOJ policy, and Trump-Xi summit.
Anticipation fuels the cryptocurrency market this week. Major coins, like Bitcoin and XRP, are rising ahead of crucial Federal Reserve (Fed) and Bank of Japan (BOJ) decisions. On the other hand, investors are keenly awaiting earnings from the “Magnificent 7” tech giants and President Trump’s upcoming summit with China’s Xi Jinping.
Frankly, the sense of momentum in crypto feels different this time. Everyone seems glued to the charts.
Bitcoin, XRP Lead Gains
Bitcoin climbed 1.7% in the last 24 hours, hitting $113,600. It’s now working on a three-day winning streak. The recent rally started after sellers gave up near the 200-day simple moving average (SMA) set at $108,800. While Bitcoins’s price hasn’t surpassed the 50-day SMA at $114,250, the mood is positive.
I keep noticing how persistent this buying is, especially as traders bet on easier money ahead. The total crypto market cap now stands near $3.88 trillion, rising over 4% for the week. Trading volumes reached $122 billion, showing real conviction.
XRP, meanwhile, has retaken its 200-day SMA at $2.60. Now trading around $2.85, it gained more than 9% over the past week. The rally gathers steam as speculation grows about the approval of new XRP-based exchange-traded funds (ETFs). Ether (ETH) and Solana (SOL) also posted solid advances.
All Eyes on Fed and BOJ
The Federal Reserve seems almost certain to cut its policy rate by 25 basis points on Wednesday, bringing it to 4%. Futures markets give a 99% probability to the move. Another cut is likely in December, as hints from Chair Jerome Powell and recent economic trends support more easing.
Powell’s focus remains on supporting jobs, especially with inflation cooling and risks to the labor market growing. If he signals even more concern for employment, expect further rallies in risk assets like crypto. Still, it’s crucial to watch for any unexpected shifts or hawkish talk. Sometimes, markets react violently to surprises.
Over in Japan, the BOJ is expected to leave its rate unchanged at 0.50%. Governor Ueda may stick to a patient approach, hesitant to tighten further due to yen weakness and global uncertainty. Steady BOJ policy could encourage Japanese investors to pursue riskier assets, including cryptocurrencies.
Mag 7 Earnings and Trump-Xi Summit
Five of the top US tech firms Microsoft, Meta, Alphabet, Apple, and Amazon are set to report earnings this week. The tech sector’s results often shape broader market trends, especially as spending on artificial intelligence stays in focus. Even a slight miss on earnings, or fresh tariff news, could jolt markets.
Personally, I believe these reports could bring extra volatility for crypto and stocks. Investors will scramble to interpret AI and cloud spending trends.
On the political front, President Trump and China’s Xi Jinping will meet Thursday in South Korea for their first face-to-face since 2019. Both sides recently signaled progress toward a trade deal. Although optimism is high, any disappointment could spark a pullback. Investors should stay nimble, given how quickly risk sentiment can change.
Written By Fazal Ul Vahab C H
