The global crypto market witnessed a notable surge today, with its market cap climbing to $3.51 trillion, reflecting a 4.84% increase in the last 24 hours. The total trading volume also rose by 1.47%, reaching $153.72 billion. Bitcoin’s dominance slightly decreased by 0.46%, now standing at 57.98%, while Ethereum and XRP recorded impressive intraday gains.
One major factor driving the market’s bullish momentum is the anticipation surrounding the FOMC meeting 2025, scheduled for January 29. According to the CME FedWatch Tool, 97.3% of participants expect the Federal Reserve to keep interest rates steady, while 2.7% hope for a surprise rate cut. Analysts, including Sam Stovall from CFRA Research, project two rate cuts later in 2025, one in Q2 and another in Q4. The potential for reduced borrowing costs and increased liquidity has fueled optimism, particularly for BTC, which is up today, and other altcoins.
Another significant contributor is Ripple XRP news, as the company expands its presence in the U.S. Ripple recently secured Money Transmitter Licenses (MTLs) in New York and Texas, enabling it to provide compliant cross-border payment services. With over 50 MTLs nationwide and more than 60 licenses globally, Ripple’s developments have further strengthened market confidence. XRP, trading at $3.13, spiked 12.79% intraday, driven by these regulatory advancements.
Investor sentiment, measured by the Fear and Greed Index, highlights growing confidence in the market. The index currently stands at 72 (Greed), up from 71 yesterday, showcasing increased appetite for risk. This marks a shift from last week’s Extreme Greed (76), indicating a temporary correction that has now rebounded. Historically, such levels of greed often signal price rallies, as seen with BTC surging 4.10% to $102,732.92 and Ethereum climbing 4.84% to $3,195.93.
In summary, the crypto market’s upward trajectory is driven by anticipation of the FOMC meeting 2025, Ripple’s regulatory milestones, and positive sentiment reflected in the Fear and Greed Index. These factors combine to explain why the crypto market is up today and why investors remain optimistic about sustained growth in 2025.
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Deepmala Upadhyay is an experienced crypto journalist, content strategist, and News writer with over 5 years of expertise in writing and the crypto industry. Holding a Bachelor's Degree in Computer Science and a deep understanding of blockchain technology and financial markets, she excels in delivering exclusive news, in-depth research blogs, and expertly crafted on-page SEO content. As a team lead and content writer at CoinGabbar, Deepmala is responsible for analyzing blockchain technologies, cryptocurrency, price movements, and the crypto market with precision and insight. Her keen ability to create well-researched, impactful content, combined with her expertise in market analysis, makes her a trusted voice in the crypto space.
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