The crypto market is in holding pattern mode. Bitcoin (BTC) is trading around $92,327, and traders seem content to wait things out before tomorrow's FOMC meeting, where the Fed is widely expected to announce another rate cut. Rate cuts, in theory, make risk assets like crypto more attractive—though lately Bitcoin seems to move on its own vibes regardless of what Jerome Powell does.

Adding some fuel to the bullish case, the SEC just approved Bitwise's new multi-asset crypto ETP, which is the kind of regulatory green light that tends to lift sentiment across the board. Institutional products keep getting approved, institutional money keeps showing up—it's becoming a pattern.

Here's where the major cryptocurrencies stood at press time:

What the Analysts Are Saying

Entrepreneur and Bitcoin investor Lark Davis highlighted Bernstein's latest research note, which makes a bold claim: the traditional four-year Bitcoin cycle is officially over. According to Bernstein, persistent institutional demand has created a structural bid that's broken the old boom-and-bust rhythm. Instead of cyclical peaks and crashes, Bitcoin is now on a smoother trajectory toward much higher prices.

Their updated price targets? $150,000 in 2026, $200,000 in 2027, and $1 million by 2033. Those are big numbers, but the logic is straightforward—if institutions keep buying and supply stays capped, the math gets interesting fast.

On the technical side, analyst Rekt Capital noted that Bitcoin is showing strength after a relatively shallow pullback. The key level to watch is $93,500. A daily close above that price, followed by a successful retest as support, would confirm a breakout from the current trading range. Historically, Bitcoin has tended to follow through aggressively once it closes a 12-month period above this kind of resistance level. With this year on track to close above it, the odds favor continued upside.

Crypto trader Scient pointed out that Bitcoin is now on its fourth attempt to reclaim the yearly open. From here, he's focused on two key resistance zones: $96,500 and $101,000. That second level marks his final take-profit target for his recent long positions, and it's where a lot of traders will be watching closely to see if Bitcoin can punch through or stall out.

Other Crypto Headlines Worth Watching

Elsewhere in crypto, Bitwise's Matt Hougan suggested that while everyone debates Ethereum versus Solana, there's another crypto that's being overlooked. Cardano (ADA) surged 10% after founder Charles Hoskinson called a recent development the "single biggest event in Cardano history." Twenty One Capital's Bitcoin-focused debut didn't go as planned, with the stock tumbling after launch. Ethereum (ETH) founder Vitalik Buterin weighed in on political drama, calling anti-EU attacks "unhinged" and "over the top." And Coinbase (COIN) shares rallied on news of a historic partnership with PNC.

All eyes remain on the Fed tomorrow. If the rate cut comes through as expected, it could be the catalyst that pushes Bitcoin through those resistance levels traders are watching. Or not—crypto has a funny way of doing its own thing.