Markets Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Altcoins jump as dollar slides, bitcoin hold Markets Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Altcoins jump as dollar slides, bitcoin hold

Altcoins jump as dollar slides, bitcoin holds steady: Crypto Markets Today

7 min read
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

Altcoins jump as dollar slides, bitcoin holds steady: Crypto Markets Today

The Dollar Index hit a four-year low, while altcoins surged led by HYPE, JTO and Solana memecoin PIPPIN.

By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback
Jan 28, 2026, 11:40 a.m.
Make us preferred on Google
The weakening dollar helped lift altcoins as bitcoin held steady. (Frederick Warren/Unsplash/Modified by CoinDesk)

What to know:

  • Bitcoin held near $89,200 and ether topped $3,000, supported by a sharp drop in the U.S. dollar index (DXY).
  • Altcoins outperformed, with Hyperliquid’s HYPE up 25% and Solana staking token JTO extending a 31% three-day rally.
  • Speculative tokens led gains, including Solana-based memecoin PIPPIN up 64%, as CoinDesk’s altcoin-heavy CD80 index beat CD20.

Bitcoin BTC$89,347.10 traded little changed Wednesday after gaining yesterday as the dollar weakened. Ether ETH$3,017.15 gave up some of its gains.

Instead, advances came from other parts of the altcoin market. Hyperliquid's native HYPE token extended gains, adding 11% since midnight UTC, and Solana liquid staking token JTO$0.3888 surged 32%, its biggest one-day gain since December 2023, according to CoinDesk data.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up

The Dollar Index (DXY) fell to a four-year low on Tuesday, crucially below a trendline dating back to 2011 despite an attempt by President Donald Trump to reassure markets by saying the dollar is "doing great," and that he is not "concerned."

Dollar strength or weakness has a direct impact on the crypto market because the majority of assets are traded against the U.S. currency. The inverse correlation was a key talking point in the previous bear market, when the dollar rose by 22% between November 2021 and October 2022 while bitcoin lost more than 70% of its value.

Dollar breaks trendline (TradingView)

Derivatives positioning

  • Another $230 million in leveraged bullish crypto futures positions were liquidated in the past 24 hours, extending the trend of consistent long-side wipeouts since Monday.
  • Bitcoin and ether 30-day and one-day implied volatility indexes remain under pressure, a sign traders do not expect major turbulence even as the Fed interest-rate decision looms.
  • The notional open interest (OI) in futures tied to the HYPE token has surged over 20% in dollar terms in 24 hours. That is largely reflective of price gains in the token, because in token terms it remains largely unchanged near 57 million HYPE.
  • OI in BTC, ETH, XRP and BNB has risen 2%-4%.
  • Except ZEC, and TRX, annualized funding rates for majors remain positive, indicating a bias for bullish positioning.
  • On Deribit, BTC and ETH puts continue to trade at a premium to calls. Activity has picked up in BTC put options at the $85,000 strike, indicating a demand for downside hedges.
  • Block flows in BTC have been mixed, with traders chasing both put and call spreads. In ETH's case, straddles and risk reversals were in demand.

Token talk

  • While HYPE and JTO are among the top performers on Wednesday, the largest altcoin gain goes to PIPPIN, a Solana-based memecoin and autonomous AI agent created by AI innovator Yohei Nakajima.
  • PIPPIN is up by 64% in the past 24 hours and is the most bought token by "smart money" investors, according to Stalkchain.
  • Decentralized exchange tokens JUP$0.2275 and aster ASTER$0.6860 also embarked on moves to the upside, with the former increasing by 3.11% since midnight UTC to notch a 24 hour gain of 10.9%, while ASTER trades at $0.69 having risen by 5.7% since Tuesday morning.
  • CoinDesk indexes are also indicating altcoin strength: The bitcoin-dominant CoinDesk 20 (CD20) Index is up by 2.47% in the past 24 hours and 2.38% since the turn of the year, while the altcoin heavy CoinDesk 80 (CD80) has outperformed its counterpart with a 3.7% 24-hour gain and a 7.3% increase since Jan. 1.
  • The buoyant mood across the altcoin sector comes as bitcoin remains stuck in a tight trading range — historically a bullish period for altcoins because capital is often rotated to more speculative bets until bitcoin makes a decisive move one way or the other.
Crypto Markets TodayMarketsDerivativesAltcoins

Di più per voi

Pudgy Penguins: A New Blueprint for Tokenized Culture

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

Cosa sapere:

Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

View Full Report

More For You

HYPE token's 50% surge is a story of crypto-traditional market convergence, treasury firm says

HYPE has surged 50%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.

What to know:

  • Hyperliquid's HYPE token has surged more than 50% to $34.57 this week, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
  • The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
  • Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Read full story
Latest Crypto News

Nomura's Laser Digital applies for U.S. national trust bank to offer crypto custody

Stablecoins seen as ‘the default’ for payments as OKX brings crypto card to Europe

HYPE token's 50% surge is a story of crypto-traditional market convergence, treasury firm says

Ethereum unveils new rules to make AI agents turstworthy

BTC, ETH, SOL move higher as markets eye Fed, Mag 7 earnings and weaker dollar

Here's how China's response to Trump tariffs silently rocks bitcoin

Top Stories

Circle faces first major 'threat' for institutional dollars from Tether’s USAT

Top stablecoins shrink as crypto cash flees, posing risk to bitcoin's bounce

Latest Crypto News

Nomura's Laser Digital applies for U.S. national trust bank to offer crypto custody

Stablecoins seen as ‘the default’ for payments as OKX brings crypto card to Europe

HYPE token's 50% surge is a story of crypto-traditional market convergence, treasury firm says

Ethereum unveils new rules to make AI agents turstworthy

BTC, ETH, SOL move higher as markets eye Fed, Mag 7 earnings and weaker dollar

Here's how China's response to Trump tariffs silently rocks bitcoin

Top Stories

Circle faces first major 'threat' for institutional dollars from Tether’s USAT

Top stablecoins shrink as crypto cash flees, posing risk to bitcoin's bounce

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?

Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?

The post Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment? appeared on BitcoinEthereumNews.com. Crypto News 17 September 2025 | 17:39 Is dogecoin really fading? As traders hunt the best crypto to buy now and weigh 2025 picks, Dogecoin (DOGE) still owns the meme coin spotlight, yet upside looks capped, today’s Dogecoin price prediction says as much. Attention is shifting to projects that blend culture with real on-chain tools. Buyers searching “best crypto to buy now” want shipped products, audits, and transparent tokenomics. That frames the true matchup: dogecoin vs. Pepeto. Enter Pepeto (PEPETO), an Ethereum-based memecoin with working rails: PepetoSwap, a zero-fee DEX, plus Pepeto Bridge for smooth cross-chain moves. By fusing story with tools people can use now, and speaking directly to crypto presale 2025 demand, Pepeto puts utility, clarity, and distribution in front. In a market where legacy meme coin leaders risk drifting on sentiment, Pepeto’s execution gives it a real seat in the “best crypto to buy now” debate. First, a quick look at why dogecoin may be losing altitude. Dogecoin Price Prediction: Is Doge Really Fading? Remember when dogecoin made crypto feel simple? In 2013, DOGE turned a meme into money and a loose forum into a movement. A decade on, the nonstop momentum has cooled; the backdrop is different, and the market is far more selective. With DOGE circling ~$0.268, the tape reads bearish-to-neutral for the next few weeks: hold the $0.26 shelf on daily closes and expect choppy range-trading toward $0.29–$0.30 where rallies keep stalling; lose $0.26 decisively and momentum often bleeds into $0.245 with risk of a deeper probe toward $0.22–$0.21; reclaim $0.30 on a clean daily close and the downside bias is likely neutralized, opening room for a squeeze into the low-$0.30s. Source: CoinMarketcap / TradingView Beyond the dogecoin price prediction, DOGE still centers on payments and lacks native smart contracts; ZK-proof verification is proposed,…
Share
BitcoinEthereumNews2025/09/18 00:14
Crucial Fed Rate Cut: October Probability Surges to 94%

Crucial Fed Rate Cut: October Probability Surges to 94%

BitcoinWorld Crucial Fed Rate Cut: October Probability Surges to 94% The financial world is buzzing with a significant development: the probability of a Fed rate cut in October has just seen a dramatic increase. This isn’t just a minor shift; it’s a monumental change that could ripple through global markets, including the dynamic cryptocurrency space. For anyone tracking economic indicators and their impact on investments, this update from the U.S. interest rate futures market is absolutely crucial. What Just Happened? Unpacking the FOMC Statement’s Impact Following the latest Federal Open Market Committee (FOMC) statement, market sentiment has decisively shifted. Before the announcement, the U.S. interest rate futures market had priced in a 71.6% chance of an October rate cut. However, after the statement, this figure surged to an astounding 94%. This jump indicates that traders and analysts are now overwhelmingly confident that the Federal Reserve will lower interest rates next month. Such a high probability suggests a strong consensus emerging from the Fed’s latest communications and economic outlook. A Fed rate cut typically means cheaper borrowing costs for businesses and consumers, which can stimulate economic activity. But what does this really signify for investors, especially those in the digital asset realm? Why is a Fed Rate Cut So Significant for Markets? When the Federal Reserve adjusts interest rates, it sends powerful signals across the entire financial ecosystem. A rate cut generally implies a more accommodative monetary policy, often enacted to boost economic growth or combat deflationary pressures. Impact on Traditional Markets: Stocks: Lower interest rates can make borrowing cheaper for companies, potentially boosting earnings and making stocks more attractive compared to bonds. Bonds: Existing bonds with higher yields might become more valuable, but new bonds will likely offer lower returns. Dollar Strength: A rate cut can weaken the U.S. dollar, making exports cheaper and potentially benefiting multinational corporations. Potential for Cryptocurrency Markets: The cryptocurrency market, while often seen as uncorrelated, can still react significantly to macro-economic shifts. A Fed rate cut could be interpreted as: Increased Risk Appetite: With traditional investments offering lower returns, investors might seek higher-yielding or more volatile assets like cryptocurrencies. Inflation Hedge Narrative: If rate cuts are perceived as a precursor to inflation, assets like Bitcoin, often dubbed “digital gold,” could gain traction as an inflation hedge. Liquidity Influx: A more accommodative monetary environment generally means more liquidity in the financial system, some of which could flow into digital assets. Looking Ahead: What Could This Mean for Your Portfolio? While the 94% probability for a Fed rate cut in October is compelling, it’s essential to consider the nuances. Market probabilities can shift, and the Fed’s ultimate decision will depend on incoming economic data. Actionable Insights: Stay Informed: Continue to monitor economic reports, inflation data, and future Fed statements. Diversify: A diversified portfolio can help mitigate risks associated with sudden market shifts. Assess Risk Tolerance: Understand how a potential rate cut might affect your specific investments and adjust your strategy accordingly. This increased likelihood of a Fed rate cut presents both opportunities and challenges. It underscores the interconnectedness of traditional finance and the emerging digital asset space. Investors should remain vigilant and prepared for potential volatility. The financial landscape is always evolving, and the significant surge in the probability of an October Fed rate cut is a clear signal of impending change. From stimulating economic growth to potentially fueling interest in digital assets, the implications are vast. Staying informed and strategically positioned will be key as we approach this crucial decision point. The market is now almost certain of a rate cut, and understanding its potential ripple effects is paramount for every investor. Frequently Asked Questions (FAQs) Q1: What is the Federal Open Market Committee (FOMC)? A1: The FOMC is the monetary policymaking body of the Federal Reserve System. It sets the federal funds rate, which influences other interest rates and economic conditions. Q2: How does a Fed rate cut impact the U.S. dollar? A2: A rate cut typically makes the U.S. dollar less attractive to foreign investors seeking higher returns, potentially leading to a weakening of the dollar against other currencies. Q3: Why might a Fed rate cut be good for cryptocurrency? A3: Lower interest rates can reduce the appeal of traditional investments, encouraging investors to seek higher returns in alternative assets like cryptocurrencies. It can also be seen as a sign of increased liquidity or potential inflation, benefiting assets like Bitcoin. Q4: Is a 94% probability a guarantee of a rate cut? A4: While a 94% probability is very high, it is not a guarantee. Market probabilities reflect current sentiment and data, but the Federal Reserve’s final decision will depend on all available economic information leading up to their meeting. Q5: What should investors do in response to this news? A5: Investors should stay informed about economic developments, review their portfolio diversification, and assess their risk tolerance. Consider how potential changes in interest rates might affect different asset classes and adjust strategies as needed. Did you find this analysis helpful? Share this article with your network to keep others informed about the potential impact of the upcoming Fed rate cut and its implications for the financial markets! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Crucial Fed Rate Cut: October Probability Surges to 94% first appeared on BitcoinWorld.
Share
Coinstats2025/09/18 02:25
MOEX to Launch $XRP Indices/Futures: $MAXI Adoption Grows

MOEX to Launch $XRP Indices/Futures: $MAXI Adoption Grows

The post MOEX to Launch $XRP Indices/Futures: $MAXI Adoption Grows appeared on BitcoinEthereumNews.com. MOEX to Launch $XRP Indices/Futures: $MAXI Adoption
Share
BitcoinEthereumNews2026/02/04 06:00