Newton Gitonga
Digital coins displayed bullishness on Thursday as Bitcoin steadied above the $100K psychological mark.
Cryptocurrencies rallied as Jerome Powell confirmed the Fed’s decision to keep rates unchanged during yesterday’s announcement.
BREAKING: The Federal Reserve holds interest rates steady, defying pressure from Pres. Trump to lower them.
The decision to maintain the current level pauses a series of three consecutive interest rate cuts imposed by the Fed over the final months of 2024.
The move maintains the Federal benchmark funds rate within 4.25% – 4.50% and marks the initial pause after multiple cuts in the past three meetings.
The Fed’s announcement triggered substantial rebounds in the cryptocurrency market.
Further, the steady labor market signals economic stability.
Bitcoin tested the $106 amid increased interest in risk-on assets.
Meanwhile, Litecoin, Hyperliquid, and Aethir grabbed investor attention for various reasons. Let’s find out more.
Litecoin soars on ETF optimism
LTC dominated crypto trends today with substantial gains.
The token soared from a daily low to $133 at press time, marking a 20.91% uptick.
Positive progress in Litecoin’s spot exchange-traded fund contributed to LTC’s remarkable gain.
The United States SEC seeks public feedback as it reviews Canary Capital’s Litecoin ETF application.
The developments fueled the excitement of an imminent LTC ETF listing and Bitcoin and Ethereum’s approvals.
ETF analyst Eric Balchunas highlighted that the agency has 240 days to decide whether to reject or accept the filing.
LTC trades above $132 with robust bullishness. It hovers above the vital 50 and 200 MAs, suggesting an upward trend.
The SEC’s recognition of Litecoin’s ETF came as a watershed moment for the altcoin space.
Crypto enthusiasts anticipate a friendly regulatory approach with the new pro-crypto US government.
An LTC exchange-traded fund approval would open the doors for similar alt products.
Hyperliquid flips resistance to support
HYPE flipped its trajectory to bullishness after overcoming a crucial resistance zone.
The altcoin gained 24.6% over the past 24 hours to top $27.
The alt’s current structure displays bullishness. HYPE’s surge saw it overcoming the crucial resistance at 20-day EMA.
The increased accumulation will likely support steady price actions in the upcoming sessions.
Continued uptrends will propel Hyperliquid’s native token past $30. Bulls will likely target December 2024 ATHs of above $35.
However, market conditions remain volatile. Possible profit booking would trigger declines.
A move below the resistance-turned-support ($23.12) might trigger extended dips below $20.
Hyperliquid is a high-end blockchain designed to improve the performance and efficiency of decentralized applications (dApps).
Elympics taps Aethir to launch a decentralized gaming network
Gaming infrastructure Elympics confirmed plans to work with Aethir to launch GameFAI – a global decentralized network.
📰 Elympics & Aethir unveil the first decentralized gaming network.
invezz.com/news/2025/01/3…
The alliance will allow ATH node operators to receive sustainable incentives “while contributing to the growth of the decentralized gaming ecosystem.”
The news saw ATH prices soaring on the daily chart.
The alt trades at $0.05471 after gaining over 6% in the past 24 hours.
The soaring daily trading volume suggests renewed investor interest.
Continued uptrends will likely overcome the nearest resistance levels towards $0.06832. That would mean a 25% surge from ATH’s current prices.
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