Bitcoin rose 0.75% to $64,328 after a volatile two days, with the market in a holding pattern ahead of a Fed rate decision that could be the first increase in three years.
The mood across traditional markets is one of cautious hedging rather than conviction, with S&P 500 and Nasdaq 100 index futures fractionally positive, gold holding above $4,000 and silver up 1.40%
Jupiter (JUP) rose 5.79% to lead a DeFi recovery. FET fell 4.60% on the day and 6.78% over 24 hours as AI tokens continued to unwind last month’s gains. The crypto market was mixed before the Federal Reserve’s interest-rate decision later Wednesday.
The CoinDesk 20 Index has added 0.41% since midnight UTC, with 10 members advancing and 10 declining. Bitcoin BTC$64,557.86, the largest cryptocurrency, added 0.75% to claw back some of Tuesday’s losses after a volatile 48 hours that saw it spike to $66,700 last week before crashing to $62,400 in the wake of the rout in South Korean stocks. Inflation running at 4.1% makes the case for the Fed to raise the fed funds target rate for the first time in three years.