UNI token surges while rest of crypto market looks
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Bitcoin $BTC$64.823,66 is facing selling pressure ahead of today's Federal Open Market Committee (FOMC) interest-rate decision at the first meeting under new Fed Chair Kevin Warsh.
The largest cryptocurrency pulled back below $65,000 after trading near $67,000 just a day earlier, CoinDesk data show. The broader market CoinDesk 20 Index (CD200) has lost 1.2% since midnight UTC, with all but four tokens declining.
“The main focus for the week is the FOMC meeting under new leadership, with market expectations of interest rate hikes already priced in through 2027,” Laser Digital said in its weekly note.
The market is pricing in no change in the fed funds rate at this meeting. Instead, the focus will be on Warsh’s post-meeting press conference for signals on his views on inflation. Warsh has criticized the Fed's frequent press conferences and detailed forecasting and may face questions on his stance.
Among stand-out gainers, Uniswap’s $UNI token surged another 20% over 24 hours, buoyed by Standard Chartered’s bullish forecast of $100 by 2030. Meanwhile, $NEAR, INJ and several stablecoin-related assets dropped as much as 8%.
The market remains calm ahead of the Fed decision. Activity has slowed, with crypto futures volume falling 20% in 24 hours to $165 billion and open interest dropping 2.3% to $110 billion. Liquidations fell to roughly $310 million, down 44%.
The calm is also evident in BVIV, bitcoin's 30-day implied volatility index, which was hovering near an annualized 39% at the time of writing — a level not seen since June 2, just before it spiked to nearly 59% a few days later. Ether's volatility index is showing similar stability.
Cardano's $ADA stands out among altcoins. Open interest has climbed to 2.26 billion tokens, nearing the record 2.32 billion set on June 6 and recovering from the June 13 low of 2 billion.
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