Bitcoin surged above $117,200 on Tuesday, hitting a four-week high ahead of the FOMC meeting that is expected to determine the direction of the U.S. Federal Reserve’s interest rate. However, the price level has eased back slightly. BTC remains in the daily positive zone with market dominance rising to 56.2%.
BTC’s price action over the past week has been flat, with strong support at $111,000 and resistance around $116,800. The recent returns have started to give investors confidence, but the market expects more volatility after the Fed’s announcement.
Meanwhile, other major altcoins such as ETH, XRP, SOL, ADA, and DOGE have remained stable. Meanwhile, BNB hit a new record high above $960, while HYPE token is close to its previous high of $55.
Meanwhile, MYX surged more than 50% in a day to $16, becoming the main driver of the global crypto market cap increase. The total crypto market cap has now risen to $4.140 trillion, adding $140 billion in just a few days.
