Crypto market seen as "frozen" ahead of Fed decision despite early recovery signals

Timothy Misir, head of research at BRN, said in a report on Tuesday that flows into U.S. crypto ETFs point to selective positioning rather than broad-based de-risking, with altcoins drawing more capital even as bitcoin (BTC) continues to lag, The Block reported on December 9. He noted that active address numbers are stabilizing and transfer volumes are increasing, which he described as early signs of a market recovery, while emphasizing that overall confidence remains absent and the market is not yet in a fully healthy state. Misir described this week as a "macro binary" period and said many traders are staying on the sidelines ahead of Wednesday's FOMC meeting outcome, as rising rate-cut expectations are being driven by weak ADP employment data and worsening consumer confidence, while U.S. household pessimism and record consumer credit levels further complicate the demand outlook.