Cryptocurrencies showed mixed performance during Wednesday's trading, as investors awaited the US Federal Reserve's decision on interest rates, closely monitoring any signals that might reveal the direction of monetary policy for the remainder of this year.
Global markets are focused on the outcome of the Federal Reserve meeting, given the direct impact of interest rates on high-risk assets, including cryptocurrencies, which typically benefit from a more flexible monetary environment and declining returns on traditional assets.
Meanwhile, investors are monitoring developments in the Middle East's geopolitical landscape, after the United States and Iran announced their readiness to formally sign a memorandum of understanding in Switzerland next Friday, in a move seen as an important step towards finalizing the agreement aimed at ending the war between the two countries.
Despite the relative improvement in market sentiment, questions remain about the speed at which shipping and trade through the Strait of Hormuz will return to their pre-war levels, which maintains a degree of caution in investor dealings.
Analysts believe that the success of the political agreement and the stability of energy markets may contribute to boosting global risk appetite, but the course of US monetary policy will remain the most influential factor on the movement of digital assets during the current period.
In trading, major cryptocurrencies showed mixed performance. Bitcoin rose slightly by 0.01% to trade at $65,609.75, while Ethereum fell by about 0.30% to $1,789.89, and Ripple dropped by 0.72% to $1.2129.
Traders are awaiting the release of the Federal Reserve statement and the anticipated press conference of its chairman, looking for any indications regarding the future of interest rates, while cryptocurrencies continue to move within limited ranges, awaiting new catalysts to determine the direction of the market in the next phase.
