Bitcoin Bid, XRP Retakes 200-Day Average as Fed Rate Cut Looms; 'Mag 7' Earnings, Trump-Xi Summit Eyed

Why It Matters

Earnings from top ‘Mag 7’ tech firms and a potential Trump‑Xi summit add near‑term volatility risk, making central‑bank signals and QT commentary key drivers for crypto and broader risk assets.

Summary

Major cryptocurrencies climbed ahead of a widely expected 25‑basis‑point Fed rate cut to 4% this week, with bitcoin up 1.7% to $113,600 and XRP rising past its 200‑day moving average to about $2.65; ether and solana each gained roughly 3% in the past 24 hours. Markets are focused on Chair Jerome Powell’s press conference for guidance on the Fed’s balance‑sheet runoff and the outlook for further easing, while the BOJ is likely to stand pat. Earnings from top ‘Mag 7’ tech firms and a potential Trump‑Xi summit add near‑term volatility risk, making central‑bank signals and QT commentary key drivers for crypto and broader risk assets.