Bitcoin, Ethereum, Dogecoin Spike, While XRP Holds Steady Ahead Of Fed Rate Cut Decision: What ETH's 'Quick Turn Around' Against BTC Means

Leading cryptocurrencies rallied alongside stocks and precious metals on Tuesday as investors gear up for the Federal Reserve’s policy decision.

Institutional Buying Boosts ETH

Bitcoin lifted above $89,000, while Ethereum broke above $3,000 amid a broader market rally.

Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR)  and Bitmine Immersion Technologies Inc. (NYSE:BMNR), closed up 0.62% and 5.50%, respectively

Nearly $300 million was liquidated from the market in the last 24 hours, according to Coinglass, with $230 million in levered short positions wiped out.

The uptick energized Bitcoin's derivatives market, with open interest surging 3.12% over the last 24 hours. Despite the rise, “Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization climbed back above $3 trillion, up 1.33% over the past 24 hours.

S&P 500, Gold Hit New Highs

Stocks extended their gains on Tuesday. The S&P 500 lifted 0.41% to close at a record high of 6,978.60, while the tech-focused Nasdaq Composite rose 0.91% to close at 23,817.10.

The Dow Jones Industrial Average, however, slipped 408.99 points, or 0.83%, to end the session at 49,003.41.

Precious metals rebounded after Monday's crash, with gold increasing 1.80% to hit a new all-time high of $5,174 an ounce. Spot silver rallied 7.50% to $113.91 an ounce.

Investors will turn their attention to the Fed's first policy decision of the year on Wednesday. The CME FedWatch tool shows more than 97% odds that rates hold steady at 3.5%-3.75%.

What Ethereum’s Turnaround Against Bitcoin Means

In a statement to Benzinga, Arthur Azizov, founder and investor of B2 Ventures, stated that Bitcoin, "first and foremost," is a risk asset that loses out to safer assets during times of "uncertainty."

"At that point, my base case is consolidation. I expect BTC to hold the $85,000–$88,000 zone. This area already worked as strong support several times in Nov-Dec 2025, and I doubt it breaks easily this time," the analyst projected.

Michael van de Poppe, a well-known cryptocurrency trader and analyst, highlighted Ethereum’s "quick” turnaround against Bitcoin on the ETH/BTC chart.

"That’s a strong signal, and I think that there’s more to come as it’s holding a crucial level of support," Van De Poppe added.

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