Crypto traders are growing optimistic about a potential market rally after the US Federal Reserve held interest rates steady at 3.5–3.75% on Wednesday, according to sentiment platform Santiment. The firm noted a surge in bullish social media discussion among crypto participants, with a sentiment score jumping from roughly 9 to 71 shortly after the Fed’s announcement.
Analysts are divided on the outlook. Onchain analyst Willy Woo has warned that a “bull trap” may be forming, suggesting any uptrend could reverse. Crypto analyst Matthew Hyland believes a significant rally will follow once the stock market rebounds, while trader Moustache predicted a “massive rally” in the coming months.
Bitcoin has fallen 4.35% over the past 24 hours, trading at $70,790 at the time of publication, according to CoinMarketCap. The Crypto Fear & Greed Index slipped back into “Extreme Fear” territory on Wednesday, indicating that many investors remain cautious.
Originally reported by CoinTelegraph.
