Bitcoin has been hovering around the $90,000 level as traders wait for any meaningful catalysts to push price higher. Market participants anticipate a potential rally on the back of what could be a hawkish or provocative speech from Federal Reserve Chair Jerome Powell on the scheduled date. At the same time, the digital-asset space is keeping an eye on the policy landscape, including the delayed consideration of the compliance-focused CLARITY Act, which could shape appetite for crypto regulation.
As of 9:30 a.m. Eastern Time on the 24th, Bitcoin was down 0.17% over the past 24 hours at about $89,389, after briefly dipping below $88,000 the prior night and then rebounding to around $90,000 the following early hours. Ethereum rose 0.12% to roughly $2,950, while XRP and Solana slipped about 0.06% and 0.59%, respectively, with the broader market showing signs of weakness. Market-wide fear-and-greed indicators remained subdued, with Alternative’s Fear & Greed Index at 24 and CoinMarketCap’s fear index at 34, and the altcoin season index at 29, suggesting a cautious sentiment.
Analysts note the lack of material bullish catalysts, describing the price action as a “pause for breath” ahead of key events. Policy developments continue to weigh on sentiment: the CLARITY Act’s passage has been delayed, reducing expectations for crypto-friendly policy momentum in the near term. Industry voices have pointed to organizational dynamics within the crypto space, including Coinbase CEO Brian Armstrong’s opposition to certain elements of regulatory legislation, as a factor keeping lawmakers’ attention away from swift action. Looking ahead, market watchers are watching for a potential inflection point around Powell’s upcoming remarks and the Fed’s rate decision.
Forbes highlighted that greater concerns about the Fed’s independence could ultimately benefit digital-asset markets, with Bitcoin seen as a hedge amid regulatory and monetary-policy uncertainties. Jeffrey Kendall of Standard Chartered noted that the probability of a future Fed chair being someone who might support a more accommodative stance could be a crypto tailwind, a view echoed by commenters praising potential leadership. Yet caution persists given geopolitical tensions and the possibility that a rapid pullback in prices could occur if sentiment sours. Overall, the market remains in a tight range with no clear breakout catalyst, keeping Bitcoin near $90k and Ethereum near $2,950 as participants await clearer signals from policy-makers and regulators.
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