Spotlight on Ether and Silver: A Crypto Market Update

By Omkar Godbole (All times are in Eastern Time unless specified otherwise) Following our previous observation of potential activity in cryptocurrency cross-pairs, despite a lackluster performance from major tokens and the broader market against the US dollar, the largest cross by market value, ether (ETH) priced in bitcoin (BTC), has seen significant movement and reached its highest point since October 27 at 0.036. Additionally, the ADA/BTC pair has advanced to its strongest level since November 20. After briefly reaching $94,500 late on Tuesday, bitcoin (BTC) dropped back to $85,132.30. ETH, ADA, and privacy coins XMR and ZEC all experienced a surge of over 7% within 24 hours, while SOL, DOGE, XLM, LINK, and HYPE saw an increase of around 2%. Further gains in cross-pairs could be on the horizon if the Federal Reserve reduces interest rates by 25 basis points as anticipated and, more importantly, if Chair Jerome Powell adopts a dovish tone, potentially paving the way for more rate cuts in the coming year. Currently, markets appear to be expecting a hawkish forward guidance, contributing to the continued rise in the 10-year US Treasury yield. Beyond the Federal Reserve, an impending Supreme Court decision on the legality of President Donald Trump's 'reciprocal' tariffs could introduce another layer of market volatility. The decision is expected any day now. If the court rules the tariffs as unlawful, it could alleviate a source of inflation concerns and trade uncertainty, possibly leading to a risk-on attitude as the year comes to a close. Several investment banks, including Goldman Sachs, have pointed out that the Trump administration may still utilize other tools, such as Section 232 levies, to reimpose trade pressure. In other policy news, the IMF has warned that stablecoins may pose foreign-exchange risks to emerging markets, although experts argue that they are not yet large enough to have a significant systemic impact. In Washington D.C., the teachers' union, AFT, has criticized the latest crypto market bill, citing 'profound risks' for Americans' retirement plans. In traditional markets, silver has surged to a record high of $61.60 per ounce, more than doubling in value this year. The dollar index remains near 99.00, while the 10-year Treasury yield has risen to its highest level since September 4. Remain vigilant for further developments. For a more in-depth analysis of today's activity in altcoins and derivatives, please refer to CryptoMarkets Today. Key Events to Watch For a comprehensive list of events this week, please see CoinDesk's 'Crypto Week Ahead'. Upcoming Token Events For a comprehensive list of events this week, please see CoinDesk's 'Crypto Week Ahead'. Conferences and Meetings For a comprehensive list of events this week, please see CoinDesk's 'Crypto Week Ahead'. Market Trends Bitcoin Statistics Technical Analysis Insights Crypto-Related Equities Crypto Treasury Companies ETF Investment Flows Spot BTC ETFs Spot ETH ETFs Source: Farside Investors Overview of the Previous Day