"Bitcoin, Ethereum, XRP, Dogecoin, wait-and-see ahead of FOMC minutes release"

Major virtual assets (cryptocurrencies) such as Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Dogecoin (DOGE) are showing a wait-and-see trend without a clear direction ahead of the U.S. Federal Open Market Committee (FOMC) minutes release.

According to crypto-focused media Benzinga on the 30th, Bitcoin is trading around 87,000 dollars. A general holding sentiment appears to be spreading across the market ahead of the FOMC minutes to be released at 4 a.m. on the 31st (Korea Standard Time).

Market analysts say that the wait-and-see sentiment ahead of technical resistance zones and macro events is combining to limit upside momentum. Crypto analyst Michael van de Poppe diagnosed, "Bitcoin is repeatedly facing resistance at the upper 88,000 dollars," and "the box-range consolidation phase that has continued for weeks is persisting."

He added, "While a price compression zone may be a precursor to large volatility, a cautious approach is needed until there's a clear breakout to the upside or a breakdown to the downside."

Chart analyst Ali Martinez pointed out, "Bitcoin has formed a so-called death cross between the 10-week moving average and the 50-week moving average on the weekly chart." That pattern has historically been interpreted as a signal suggesting a weakening of mid-term momentum.

The FOMC minutes are cited as a potential trigger for short-term volatility. Crypto trader Ted Pillows said, "The minutes release could increase short-term price volatility," but analyzed, "For a trend reversal rebound, Ethereum needs to recover and hold the 3,000 dollars level as support."

A relatively optimistic outlook was also presented for Dogecoin. Crypto trader Capital Marks presented a mid-term breakout target of 0.6533 dollars for Dogecoin, assessing there is about 401% upside potential compared to the current price. He said, "The price movement since early 2022 suggests a mid- to long-term uptrend," and projected, "Whether the area is broken will be key to an additional rally."

The media said, "Overall, the market is maintaining a conservative trading stance until signals that can gauge the Fed's monetary policy stance are confirmed," and "Investors are likely to seek the next direction after confirming clues about the interest rate path and liquidity through the FOMC minutes."