Pi Network’s PI Extends Recovery as Bitcoin (BTC) Settles After FOMC Meeting: Market Watch

The highly anticipated FOMC meeting yesterday didn’t bring any surprises despite some expectations of a rate hike, and bitcoin’s price has calmed at around $64,000 after the recent volatility.

Most larger-cap alts have posted minor losses over the past 24 hours, led by HYPE’s 3% drop to under $54. In contrast, UNI has pumped to $4.

BTC Settles

Bitcoin rallied hard last week, going from under $64,000 to a monthly peak of $67,000. That resistance, though, turned out to be too strong given the current lack of substantial bullish catalysts, and the asset fell to $64,600 within a day or so, and dipped by another grand on Friday.

The bulls didn’t allow another breakdown, as BTC remained at around $64,000 during the weekend. It climbed to $64,500 on Sunday and jumped by another $1,000 on Monday as the markets priced in the de-escalation news on the Middle East war from that weekend.

Nevertheless, bitcoin was almost instantly rejected again, and the subsequent dip pushed it to under $62,800 on Tuesday ahead of the FOMC meeting in what appeared to be a de-risking move from investors. In the hours before and after the event, in which the Fed maintained interest rates at 3.50%-3.75%, BTC experienced some volatility, which included a rise to $64,600 and a dip to $63,200.

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