Daily Market Update: Bitcoin and Stocks Pause as All Eyes Turn to Fed and Big Tech Earnings

TLDR Bitcoin traded near $89,000 on Wednesday while Ethereum rose 2% to just under $3,000 as traders waited for the Federal Reserve’s rate decision Global stock markets hit record highs led by technology shares, with the S&P 500 closing at a fresh peak on Tuesday The U.S. dollar fell to its weakest level since early 2022, dropping to around 95.5 on the dollar index The Fed is expected to keep interest rates unchanged between 3.5% and 3.75%, with markets pricing in two quarter-point cuts by end of 2026 Major tech companies including Microsoft, Meta, Tesla, and Apple are reporting earnings this week while crypto has lagged behind gold and silver rallies Bitcoin traded in a tight range near $89,000 on Wednesday as global stock markets pushed to new highs. Traders across both crypto and equity markets positioned themselves ahead of the Federal Reserve’s first rate decision of 2026. Bitcoin (BTC) Price The largest cryptocurrency hovered around $88,800 during Asian trading hours. It posted modest gains after a choppy start to the week. Ethereum climbed about 2% to reach just under $3,000. Most major tokens showed small gains according to CoinGecko data. The moves were measured rather than directional. Markets appeared to be waiting for clearer signals from the Fed. Global equity markets extended their recent rally. Asian stocks hit record highs during Wednesday trading. U.S. index futures pointed higher after the S&P 500 closed at a fresh peak on Tuesday. E-Mini S&P 500 Mar 26 (ES=F) Technology shares led the stock market gains. Optimism around artificial intelligence spending drove investor interest. A heavy slate of megacap earnings reports was scheduled for this week. The Nasdaq Composite also outperformed in Tuesday’s session. The Dow Jones Industrial Average slid however. UnitedHealth shares tumbled nearly 20% and dragged the index lower. Dollar Weakness Supports Risk Assets The U.S. dollar steadied after falling to its weakest level since early 2022. The dollar i...