Most cryptocurrencies fell on Tuesday amid a weak risk appetite, with markets following geopolitical developments and the trade war, while waiting for the Federal Reserve’s policy decisions. 

Analysts expect the Fed to hold interest rates unchanged at this week’s meeting. 

However, investors expect the Fed to release detailed forecasts for growth, inflation and interest rates to gauge the impact of US President Donald Trump on policies. 

Investors continue to be concerned about the ongoing global trade war and its impact on businesses and sales.

US President Donald Trump spoke to Russian counterpart Vladimir Putin on the phone, and discussed ways to end the three-year long war in Ukraine, which could lessen US sanctions on Russian fuel exports.

Trump said he agreed with Putin on an immediate ceasefire in the energy and infrastructure sectors, with an understanding that both parties will work towards a full ceasefire quickly.

Ripple

On trading, ripple spiked 3.9% as of 20:21 GMT to $2.26. 

Gold prices rose on Tuesday as the dollar reversed lower ahead of the Federal Reserve's policy decisions. 

Analysts expect the Fed to hold interest rates unchanged at this week’s meeting. 

However, investors expect the Fed to release detailed forecasts for growth, inflation and interest rates to gauge the impact of US President Donald Trump on policies. 

Investors continue to be concerned about the ongoing global trade war and its impact on businesses and sales.

Otherwise, the dollar index fell 0.1% as of 19:53 GMT to 103.2, with a session-high at 103.6, and a low at 103.2.

On trading, gold spot prices rallied 1.3% as of 19:54 GMT to $3043.6 an ounce.

US stock indices fell on Tuesday after a two-session decline before the Federal Reserve’s policy meeting. 

Analysts expect the Fed to hold interest rates unchanged at this week’s meeting. 

However, investors expect the Fed to release detailed forecasts for growth, inflation and interest rates to gauge the impact of US President Donald Trump on policies. 

Investors continue to be concerned about the ongoing global trade war and its impact on businesses and sales.

On trading, Dow Jones fell 0.4%, or 171 points as of 14:35 GMT to 41,669 points, while S&P 500 dropped 0.9%, or 55 points to 5620 points, as NASDAQ lost 1.7%, or 309 points to 17,501 points. 

Bitcoin lost 2.0% on Tuesday amid a tepid atmosphere in the market with US 10-year treasury yields surging.

Later today, the Federal Reserve will commence its two-day policy meeting to decide on appropriate monetary policy tools, with the bank widely expected to hold rates unchanged. 

Prices

Bitcoin fell 2.0% at Bitstamp today to $82,259, with a session-high at $83,989.

On Monday, bitcoin rose 1.8% as US stock indices rebounded on Wall Street.

Crypto Market Value 

The market value of cryptocurrencies fell by over $55 billion to a total of $2.790 trillion.

US Treasury Yields 

US 10-year treasury yields rose 0.5% on Tuesday to near multi-week highs, in turn hurting the risk appetite.

The developments come amid concerns that Donald Trump’s aggressive trade policies could cause a recession in the world’s largest economy.

The Fed

Later today, the Federal Reserve will convene to discuss policies, with markets expecting no changes in interest rates.

Data released last week showed US consumer prices slowed down more than expected in February, bolstering the case for a Fed rate cut in the first half of the year.

According to the Fedwatch tool, the odds of a Fed 0.25% rate cut in March stood at just 1%, while the odds of a May rate cut stood at 30%.

The odds of a Fed June 0.25% interest rate cut stood at 75%.