Key Takeaways

• Bitcoin barely moves: The world’s largest crypto fell 0.3% to $65,847.7, cutting short its recent peace deal-driven recovery.
• Tight ranges prevail: Crypto markets are holding cautious positions ahead of the Fed decision later today.
• ETF outflows easing: Spot Bitcoin ETFs are seeing reduced outflows, offering some relief — but still nursing five straight weeks of deep institutional selling.
• Fed holds today: The first meeting under new Chair Kevin Warsh is widely expected to result in no change; the outlook and dot plot are the key watches.
• Rate hike risk lingers: Energy-driven inflation from the Iran war remains the primary driver of tightening speculation.
• Oil’s slide complicates the picture: The Iran peace deal has sent crude tumbling, potentially softening the Fed’s hawkish case.
• Iran MOU signing Friday: Markets also await the formal Geneva ceremony and more details on the framework deal.
• Uniswap surges 20.5%: UNI rose to $3.5130 — a near one-month high — after Standard Chartered initiated coverage with a $100 price target by end-2030.
• StanChart’s timeline: $6.50 by end-2026 (~100% upside), $20 in 2027, $100 by 2030.
• DeFi infrastructure thesis: Standard Chartered argues Uniswap could become a major market settlement and trading player as tokenized assets expand in DeFi.
• BlackRock’s BUIDL on Uniswap: The platform recently opened access to the asset manager’s tokenized fund.
• Ether outperforms: Rose 1.7% to $1,792.81 — the notable altcoin exception on an otherwise flat day.
• XRP, Solana, BNB fall less than 1%: Cardano underperformed with a 2.6% drop.
• Memecoins flat: Dogecoin and $TRUMP barely moved.

Bitcoin moved little on Wednesday, with cryptocurrency markets keeping to tight ranges in anticipation of more cues on U.S. interest rates from a Federal Reserve meeting later in the day.

The world’s largest crypto fell 0.3% to $65,847.7 by 01:32 ET (05:32 GMT), largely cutting short a recent recovery rally on optimism over a U.S.-Iran peace deal.

Easing outflows from spot exchange-traded funds also lent Bitcoin some relief, although spot ETFs were nursing five straight weeks of deep outflows.

Uniswap was a standout performer, rising sharply following an optimistic price target from Standard Chartered.

Focus this week is also on the signing of a memorandum of understanding between Washington and Tehran, which is expected to formally end their recent conflict.

Fed Set to Hold Rates; Outlook in Focus

The Fed is set to leave interest rates unchanged after the conclusion of its two-day meeting on Wednesday.

The meeting will be the first under new Fed Chair Kevin Warsh, with markets closely watching for his outlook on rates amid increasing speculation that the central bank may be pushed into raising borrowing costs this year.

A recent energy-driven surge in inflation was the biggest driver of rate hike speculation, especially after the U.S.-Iran war drove up global oil prices. But markets will also be watching for any potential shifts in the Fed’s stance, as oil prices have slid sharply after the United States and Iran announced a preliminary peace deal.

For Bitcoin, the prospect of higher or even steady rates bodes poorly — lessening the appeal of investing in speculative assets.

Uniswap Surges as StanChart Sets $100 Price Target

Uniswap’s UNI token rose sharply on Wednesday after Standard Chartered initiated coverage of the decentralized finance token with a $100 price target by end-2030.

UNI rose 20.5% to $3.5130 — a near one-month high.

Standard Chartered argued that Uniswap — the world’s biggest decentralized exchange — could become a larger market infrastructure player as tokenized assets move further into DeFi. The brokerage expects UNI to hit $6.50 by end-2026 — a near 100% jump from current levels — followed by $20 in 2027, before reaching $100 in 2030.

Standard Chartered expects Uniswap to gain a greater presence in market settlement and trading operations amid a wave of increased interest in tokenized assets. The DeFi exchange already hosts tokenized versions of major stocks, and recently opened access to BlackRock’s BUIDL fund on its platform.

Crypto Price Today: Altcoins Dither Ahead of Fed

Broader crypto prices moved in a mostly flat-to-low range in anticipation of the Fed decision.

Ether, the world’s second-largest cryptocurrency, was an outlier — rising 1.7% to $1,792.81.

XRP, Solana, and BNB fell less than 1%, while Cardano fell 2.6%.

Among meme tokens, Dogecoin and $TRUMP were flat.