Bitcoin is just above $29,000; Ethereum is above $1,900, and Dogecoin is up 8%

Bitcoin continued to haemorrhage, sliding more than 2% to just hold the 29,000-mark, while Ethereum was trading lower, down around 1% but still holding the $1,850-mark.

Bitcoin and other crypto tokens fell further on Tuesday, as digital token traders moved their emphasis to Sam Altman’s Worldcoin, which is now outlawed in the United States. However, traders’ attention will be drawn to the US Federal Reserve’s monetary policy meeting.

Bitcoin continued to fall on Tuesday, with the largest crypto currency losing more than 2% to hover around the $29,000 mark. However, its largest peer, Ethereum, was trading lower, down roughly 1% but still holding the $1,850 level. During the early day, the price of the action altcoins was on the down.

In the previous 24 hours, the overall crypto market has seen some selling pressure. After a 5-point decrease, the cryptocurrency fear and greed index has returned to neutral.

Dogecoin’s price increased within minutes after Twitter CEO Elon Musk changed the Twitter logo to X.com – with his location teasing the DOGE logo, leading traders to anticipate that DOGE will be used on the new X app.

Except for Dogecoin and stablecoins tethered to the US dollar, all other top crypto tokens were trading down on Tuesday. XRP and Bitcoin Cash both fell by 5%, while Solana fell by 4%. Litecoin, Cardano, and Toncoin all lost 3%. Dogecoin and other cryptocurrencies gained 8% each.

The worldwide cryptocurrency market cap was trading substantially lower, falling to $1.17 trillion after sliding 2% in the previous 24 hours. However, total trade volumes increased by 42% to $34.47 billion.

As investors await the Federal Open Market Committee (FOMC) meeting this week, bitcoin volatility has dropped to its lowest level in a year. The FOMC is likely to raise interest rates by 25 basis points this week, with the expectation that this will be the Federal Reserve’s final rate hike for the foreseeable future.