On Wednesday morning, the price of Bitcoin climbed above $102,000 as investors braced for the Federal Reserve’s interest rate decision.

The Federal Open Market Committee kept the interest rates between 4.25% and 4.5% despite cutting them in the past three meetings.

Crypto analysts are watching closely as interest rate changes affect market liquidity and broader investor sentiment. Historically, higher rates have pushed investors away from volatile assets like Bitcoin and toward safer options like bonds.

Some analysts have looked at technical indicators for insight.

“The crypto market is not yet showing sustained growth,” said Alex Kuptsikevich, FxPro chief market analyst. "[B]itcoin remains above its 50-day moving average, and the current lull can be attributed to risk aversion ahead of the Fed meeting,” he added.

Ethereum, the world’s second-largest cryptocurrency, saw its price jump to more than $3,100 on Wednesday, allowing it to approach its 200-day moving average.

“Ethereum may serve as the canary in the coal mine: a significant drop below the $3,000 mark could trigger a widespread sell-off in crypto assets,” Kuptsikevich said.

US spot Ethereum exchange-traded funds (ETFs), which debuted last year, recorded net-zero outflows on Jan. 28, according to SoSoValue data . Cumulatively, the nine funds have seen total net inflows of $2.6 billion .

During President Donald Trump’s first week, Ethereum ETFs logged $205 million in inflows, while Bitcoin ETFs saw $1.6 billion, despite the price of the world’s largest cryptocurrency briefly sliding below $100,000.

Trump, who has pledged a pro-crypto agenda, released a crypto executive order last week pledging to promote the digital asset industry.