Crypto Market Reduces Holdings by $40 Billion Ahead of Powell's Final FOMC Decision Tuesday, crypto prices retreated as traders cut positions ahead of Federal Reserve Chair Jerome Powell's last Federal Open Market Committee (FOMC) meeting. CME Group's FedWatch tool shows a 100% probability that interest rates will remain at 3.50% to 3.75% on April 29, making Powell's press conference the main focus for risk assets. As the trend of risk reduction becomes apparent, the crypto market experienced a pullback. Bitcoin (BTC) fell below $76,000, with the overall market cap dropping 1.8% to $2.62 trillion, losing nearly $40 billion in the past 24 hours. This correction aligns with the pattern of Bitcoin and altcoins declining within 24 hours before each Federal Reserve decision. Ethereum (ETH) dropped nearly 2%, XRP declined 2.2%, and BNB fell 0.7%, according to CoinGecko data. This tide of decline coincides with reductions in leverage perpetual contracts and increased inflows into exchanges, both common signs of risk aversion ahead of macro events. "Almost 10k BTC flooded into exchanges in a single day, with whale inflows accounting for over 70% of deposits. Honestly, this isn't random activity; it's large sums intentionally moving," an analyst observed. Headline inflation approaches 3.3% to 3.5%, pressured by oil prices driven by conflicts in Iran and the Middle East, weakening the case for short-term rate cuts and reinforcing hawkish expectations in CME Group data. "It feels like we've de-risked somewhat before tomorrow. The real move Bitcoin wants to make will happen later this week," one user noted. Powell's Final Meeting Shifts Focus to Tone This is widely seen as Powell's last appearance as Federal Reserve Chair, with Kevin Waugh set to succeed him in mid-May. CME data continues to reflect hawkish expectations, with a 100% probability that tomorrow's FOMC rate decision will remain unchanged. "Focus shifts to tomorrow's FOMC meeting. Rates may stay steady, so all eyes will be on Powell's message. With inflation pressures and unresolved energy and global tensions, balancing price stability and growth becomes more complex," said Federico, an executive at Phemex. Treasury yields rose slightly, with the 10-year approaching 4.33% to 4.36%, while the dollar remained strong amid safe-haven inflows. Volatility is expected to surge during Powell's press conference in the afternoon. The next 24 hours may reveal whether Powell hints at an openness to future rate cuts or continues to emphasize vigilance on inflation, a tone that has historically shaped subsequent moves in cryptocurrencies.

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I've just noticed an interesting development that's causing quite a stir in the crypto sector. Ripple seems to have reached a critical point, and it's about much more than just XRP price movements. First things first: After settling the SEC lawsuit and launching the first XRP spot ETFs, Ripple could soon obtain a banking license. That would be a game-changer. Sal Gilbertie from Teucrium Trading has stated quite clearly – if Ripple gets this license, they are literally building a competitor to JPMorgan. XRP could then serve as a central treasury and settlement asset, which would change the entire company's dynamics. Regarding the ETF side: Franklin Templeton and Grayscale have attracted massive capital inflows in a short period. We're talking about a total of around $164 million in the first trading days. This signals real institutional interest, not just retail hype. These inflows could help XRP decouple from Bitcoin and develop its own price dynamics. Of course, the current price movement isn't as spectacular as some might have hoped. The price is currently around $1.37, representing a decline of about 1.92% in 24 hours. Whale sales are slowing the recovery, and support levels are being tested. But here's the interesting part: blockchain data shows that approximately 73 million XRP have recently been withdrawn from centralized exchanges – which is usually a positive signal, indicating accumulation. What fascinates me is the long-term potential. If Ripple successfully executes its strategic steps – obtaining the banking license and leveraging ETF momentum – this could not only strengthen Ripple's market position but also change the entire perception of cryptocurrencies in the traditional financial sector. This is bigger than just a price trade. The only question is: how long will it take Ripple to secure this banking license? And how will the market react if it actually happens? These could be important catalysts. For me, it's clear that the developments around Ripple and this potential banking license are of significant importance for the entire crypto market.