Crypto Market Decline Ahead of Key Federal Reserve Meeting

The cryptocurrency market has experienced a downturn in the past 24 hours, with increased greed affirmed at a level of 73/100. Notable headlines include Bitcoin and altcoins falling ahead of the Federal Reserve's meeting, and industry players such as Winklevoss accusing JPMorgan of removing a Bitcoin brokerage account. Conversely, some positive developments are evident, such as Meliuz appointing Mason Foard as its new Bitcoin strategy director and Coinbase expanding through partnerships with Circle to reach $300 billion. The launch of PayPal has provided a boost to cryptocurrencies like ETH, SOL, and USD-backed PUSD, fostering global crypto commerce. Conflux's value jumped by 12% ahead of their major network update, reflecting strong demand. Additionally, RegDoor secured R$4.2 million to facilitate connections between companies and regulators via AI, indicating ongoing innovation. However, caution is warranted as SHIB's value declined amid institutional disinvestment, yet the market may be entering a bullish cycle according to Hashdex, with NFT assets like CryptoPunks surpassing US$200,000 rekindling investor interest. Overall, the current market sentiment is mixed but leans toward cautious optimism, with significant activity and strategic moves suggesting potential for recovery or continued volatility.