Bitcoin near $89,000 as cryptos steady ahead of Fed decision and megacap earnings

Cryptocurrency prices steadied as traders shifted positioning toward a closely watched Federal Reserve decision, megacap earnings and a weakening dollar, with bitcoin hovering near $89,000 during Asia hours and ether up about 2% to just under $3,000, according to CoinGecko data. Moves were measured rather than directional as markets waited for clearer signals.

Global stocks extended gains, Asian equities hit record highs and U.S. index futures pointed higher after the S&P 500 closed at a fresh peak, with technology shares supported by optimism around artificial intelligence spending and a heavy slate of megacap earnings due this week. The dollar had slid earlier in the week to its weakest level since early 2022, which has fueled rallies in gold and silver while crypto has lagged.

Market analysts at crypto exchange CoinSwitch said the dollar index fell to around 95.5, and added that downside pressure eased after bitcoin traded into and held the $86K–$87K zone, where "a dense cluster of leveraged long liquidations was likely triggered, reducing excess leverage and stabilizing short-term market structure." Traders are watching whether a Fed pause — which markets largely expect — will reinforce the recent bid in risk assets or if guidance around inflation and rates prompts another reset.