Bitcoin Reclaims $64K Ahead of FOMC Meeting, Pi Network’s PI Rebounds: Market Watch
Bitcoin’s price dipped below $62,800 yesterday in a de-risking move from investors ahead of the FOMC meeting, but it has rebounded swiftly to over $64,000 now.
Most larger-cap alts have turned green as well, with XRP aiming at $1.10 once again. UNI is up by over 5%, while ADA has gained more than 4%.
BTC Jumps Ahead of FOMC
BTC was rejected at $67,000 last week, and the subsequent leg down pushed it south to under $63,600 on Friday. The bulls finally stepped up after this rather substantial decline given the current dull market phase, and bitcoin remained at around $64,000 during most of the weekend.
It even climbed slightly on Sunday following some de-escalation news on the US/Iran front. More profound increases came on Monday morning when the asset priced in the lack of new attacks between the US and Iran and jumped to $65,600 on a couple of occasions.
However, it failed there quickly and tumbled hard on Tuesday. Just a day before the most unpredictable FOMC meeting in years, the cryptocurrency dumped below $62,800, losing $3,000 in less than a day.
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