Citigroup Cuts Bitcoin, Ethereum Price Targets—Here's Why

Traders are preparing for the expiration of $8.5 billion worth of Bitcoin options on Deribit, with a bullish bias indicated by the put-call ratio of 0.56. Some traders are hedging downside risks by purchasing put options ahead of the Fed meeting.

WisdomTree is expanding its tokenization efforts to Solana, allowing both institutional and retail investors to mint, trade, and hold its tokenized funds on the blockchain. This move is part of the asset manager's multichain strategy to bring traditional financial products onchain to meet growing interest in tokenized assets.

Bitcoin and Ethereum have seen slight gains ahead of the Federal Reserve's interest rate decision. Traders are closely monitoring the Fed's stance on rates, with expectations leaning towards no change in the current interest rate. The market is also preparing for other macroeconomic events, such as a funding deadline and potential government shutdown.

Polkadot has reported its first quarterly profit in almost three years, attributing it to a new conservative approach and leadership changes. The project has diversified its treasury and cut down on excessive spending, resulting in a positive financial quarter.

Analysts predict XRP's price will surge by 80% and approach all-time highs by June, with significant institutional investment in XRP ETFs since November. Ripple, the company behind XRP, has made strategic moves like raising $500 million and launching Ripple Treasury.

Hyperliquid, River, and Pump.fun have surged in the past week, with Hyperliquid leading at 65% gains. Altcoin dominance has risen from 6.7% to 7.06%, reflecting a shift in speculative capital movement.

OKX has launched a new debit card in Europe, allowing users to spend stablecoins directly at Mastercard-accepting merchants. The card offers fee-free spending and crypto rewards, with assets converted only at the time of purchase. It integrates with OKX's on-chain infrastructure, emphasizing user control.

Coinbase's stock continued to decline, reaching its lowest point since May of last year, despite introducing copper and platinum futures trading. The company's shares fell 1.24% to $208 in intraday trading, down more than 10% since the year began and 46% from its all-time high in July.

The latest quarterly report from Coinbase Institutional and Glassnode indicates Bitcoin is transitioning to a more stable phase, less susceptible to market liquidations and more influenced by global factors. The market is now characterized by disciplined trading and defensive positioning by professional investors.

Jingliang Su, a Chinese national, received a 46-month prison sentence for laundering over $36.9 million from victims of crypto scams. Su, along with eight co-conspirators, scammed 174 Americans by convincing them to invest in fake opportunities.