Bitcoin price fluctuates between morning selling and afternoon buying.

Federal Reserve Maintains Interest Rates... BTC Momentarily Touches $115K
Altcoins Plummet Over 5% Following Market Fear
BTC and Altcoins Recover to Previous Day's Prices with Afternoon Buying Pressure

As the U.S. Federal Reserve maintained its benchmark interest rates, the cryptocurrency market, including Bitcoin (BTC), declined in the morning but rebounded with afternoon buying pressure on the 31st.

Fed Chair Jerome Powell stated during a press conference on the 30th (local time) that "we need to see more of the impact of tariffs on inflation" and that "we are not yet considering interest rate cuts".

With the Fed's rate freeze, market sentiment shifted to disappointment, causing a market decline. Bitcoin momentarily dropped to $115,000, and altcoins recorded a decline of over 5%.

Despite the market downturn, afternoon buying at lower prices helped Bitcoin reclaim $118,000. Altcoins also recovered their morning losses during the trading session.

◇Bitcoin = Bitcoin's price on Upbit at 4 PM on the 31st was 163.39 million won. Bitcoin's dominance was 64.44%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 47.11% and 52.89%, respectively.

Experts diagnosed that individual investors are finally becoming exhausted, which could lead to further declines.

Amar Taha, a Cryptoquant contributor, reported that "Binance's net taker volume has recently turned negative", suggesting that individual investor sentiment has shifted to bearish.

He added that "many traders are currently selling spot Bitcoin or taking short positions, betting on Bitcoin's decline".

◇Rising Coins = On Upbit at 4 PM on the 31st, Firmchain (FCT2) recorded the largest price increase, rising by approximately 31%.

Firmchain (FCT2) is a blockchain-based electronic contract data storage platform developed to solve forgery issues and reduce costs by utilizing blockchain's decentralized characteristics. It fundamentally resolves authentication and contract forgery problems in intellectual property license contracts.

The Firmchain token is an ERC-20 token issued in May 2019 by the Singapore-based Firmchain corporation to be used as a service fee for the Firmchain platform's DApp services.

◇Fear and Greed Index = Alternative's digital asset Fear-Greed Index is at 72 points, entering the 'Neutral' stage. The neutral stage indicates psychological resistance and support from market participants, with critical decision-making behaviors likely to occur in future price movements.

Sigbit's Relative Strength Index (RSI) for cryptocurrencies is 55.1, recording a 'neutral' state. RSI measures the relative strength between upward and downward price pressures and indicates overbought and oversold levels for a specific asset.

Reporter Seung-won Kwon ksw@blockstreet.co.kr