Crypto Markets Dip as Traders Await Fed Decision Amid Precious Metals Rally

Bitcoin fell 4% to $88,400 this week as risk assets retreated ahead of the Federal Reserve's policy decision. The decline mirrored broader crypto weakness, with Ethereum holding near $2,940 and Solana, XRP, and Dogecoin posting modest losses. Trading volumes remained subdued across major tokens.

Precious metals stole the spotlight as gold briefly topped $5,000 and silver surged 14% intraday - its largest single-day MOVE since 2008. The divergence between crypto and traditional safe havens suggests traders are hedging macroeconomic uncertainty.

Equity futures edged higher with S&P 500 and Nasdaq gaining 0.4% and 0.7% respectively ahead of a packed earnings week. Over 90 S&P 500 companies report results alongside the Fed's expected decision to maintain rates at 3.5-3.75%.

Geopolitical tensions simmer as the US hikes tariffs on South Korean autos and pharmaceuticals to 25%. Market participants now watch whether crypto's correlation with tech stocks will reassert itself post-Fed announcement.