Bitcoin Reclaims $64K Ahead of FOMC as PI and Alts Bounce
Bitcoin price slipped below $62,800 in a risk-off move before the FOMC meeting, but it quickly reversed and is trading back above $64,000. After a rejection near $67,000 last week, BTC fell sharply, then steadied around $64K over the weekend.
Traders leaned on US–Iran de-escalation headlines for support, with a brief jump toward $65,600 early Monday. However, another dip followed on Tuesday, and on the day before the “most unpredictable FOMC meetings in years,” Bitcoin dumped under $62,800 again, losing about $3,000 in under a day. The rebound has since lifted BTC’s market cap to about $1.290T and increased BTC dominance to 57%.
Altcoins turned broadly green. XRP is up ~3% to around $1.09 and ADA gained ~4.4% to about $0.165. ETH reclaimed $1,900, while UNI rose over 5%. XMR reached ~$350. Losers included NEAR (-~5%) plus LTC and ZEC.
Specifically, BEAT led the 24-hour gainers, surging ~35% to $3.75, and Pi Network’s PI rebounded ~5.5% to near $0.08 after dropping to ~$0.074. Total crypto market cap recovered roughly $40B to about $2.270T.
Bitcoin’s (BTC) quick rebound suggests demand is returning ahead of macro catalysts, but price action remains highly headline-sensitive into the FOMC window.
Bullish
The article points to a bullish near-term shift: Bitcoin sold off into the FOMC headline risk (below $62.8K), but buyers quickly reversed the move and pushed BTC back above $64K. This pattern—sharp pre-event de-risking followed by rapid rebound—often signals that downside pressure is being absorbed rather than sustained.
Traders should still treat this as event-driven. FOMC outcomes can flip risk sentiment quickly, so the elevated volatility may persist. Historically, macro meetings frequently produce whipsaws: if BTC holds the rebound zone (around the mid-$60K region) after the decision, it can strengthen confidence for continuation toward prior resistance (near $67K). If BTC loses the reclaimed levels, the earlier breakdown could reassert itself.
Altcoin breadth is supportive (XRP, ADA, ETH, UNI green), and BEAT/PI momentum adds risk-on flavor. However, the presence of laggards (NEAR, LTC, ZEC) suggests rotation rather than uniform upside, which can limit follow-through for some sectors until the market clears the macro catalyst.