I closely followed the movements of the cryptocurrency market this week, and honestly, it's interesting to observe. Bitcoin attempted to break above $75,000 at the start of the week, but it didn't last long. Prices quickly fell back below the $74,400 level, suggesting that buyers are not truly convinced without a real fundamental catalyst.

What struck me is that this upward attempt seemed more related to derivatives positions than genuine spot demand. Massive put closures forced market makers to rebalance, leading to this artificial spike. Now that the dust is settling, we see that cryptocurrencies remain well-positioned for the week: Bitcoin gains 8.83%, Ether rises to $2.24k with +9.40%, XRP advances 2.74% to $1.35, Dogecoin adds 2.19% to $0.09, and BNB climbs 2.76% to $606.60.

The really notable thing is that spot Bitcoin ETFs attracted about $767 million in net inflows last week. It's the third consecutive positive week after months of outflows. And then there's an interesting connection with gold: since early March, Bitcoin has outperformed gold by over 13%, reigniting the "digital gold" narrative that we thought was dead.

Now everything depends on the Fed's decision, which concludes on Wednesday. Rates are expected to stay between 3.5% and 3.75%, so the decision itself isn't a major event. What matters is what Powell will say and how he will navigate between inflation and the weakness in the labor market. That's where cryptocurrencies will really react until the end of the month.