Meanwhile, the cryptocurrency market continued its downtrend as major tokens traded in the red. Bitcoin (BTC) briefly crossed $90,000 on Wednesday but lost momentum after reaching $90,339 and fell to $87,677 before moving to its current level. Ethereum (ETH) followed a similar trajectory, briefly crossing $3,000 before dropping to its current level. Gains in AI, RWA assets, and CeFi were also short-lived as market sentiment remained in negative territory.
Husky Inu AI (HINU) Reaches $0.00025932
On the fundraising front, Husky Inu AI has raised $924,328 as of January 29, 2026.
Markets Continue Downtrend
The cryptocurrency market extended its downtrend as the gold and silver rallies continued to pull investors from Bitcoin and other digital assets. According to market watchers, the US Dollar’s recovery, combined with gold and silver’s staggering rally, has overshadowed the cryptocurrency market.
Bitcoin (BTC) briefly reclaimed $90,000 on Wednesday, reaching an intraday high of $90,339 before dropping to $87,710. The flagship cryptocurrency is down over 1% in the past 24 hours, trading around $87,909. Meanwhile, Ethereum (ETH) crossed $3,000 and reached $3,039 on Wednesday before giving up its gains and dropping to $2,937. The altcoin is currently trading around $2,945, down nearly 2%. Ripple (XRP) is down over 2% around $1.87, while Solana (SOL) is down almost 3% at $123. Dogecoin (DOGE) is up over 3% while Cardano (ADA) is down 2% at $0.121.
Chainlink (LINK), Stellar (XLM), Litecoin (LTC), Hedera (HBAR), Toncoin (TON), and Polkadot (DOT) have also registered heavy declines over the past 24 hours.
Federal Reserve Keeps Interest Rates Unchanged
The Federal Reserve kept interest rates unchanged on Wednesday, a decision that likely contributed to Bitcoin’s and the broader crypto market’s decline on Wednesday. The Fed stated that job numbers have remained low while inflation has been above acceptable limits.
“Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated.”
However, Trump appointees Stephen Miran and Chris Waller dissented with the decision, preferring a 25 basis point rate cut. BTC remained pinned below $90,000 following the decision, which knocked the wind out of any expected recovery. Prediction markets had put the odds of a January rate cut at 40%, but hopes of a rate cut quickly faded, with markets pricing in no change to the rates at 99% heading into the meeting.
