Bitcoin falls ahead of Fed decision while Pi Network surges.
- Bitcoin falls to $113 ahead of Fed decision.
- Altcoins continue to decline, with Ethereum and Solana standing out negatively.
- Pi Network surprises with a 15% increase among the main cryptocurrencies.
The cryptocurrency market started the week optimistically, but lost momentum in the last 24 hours. Bitcoin (BTC) briefly fell to the US$112.000 region, while Ethereum (ETH) and other relevant altcoins followed the downward trend. In contrast, the Pi Network (PI) token stood out with a significant double-digit increase in value.
After briefly surpassing $116.000 earlier in the week, Bitcoin has retreated again, trading around $113.000 on Tuesday morning, registering a drop of approximately 1,2% on the day. This fluctuation occurs just hours before the highly anticipated FOMC meeting, where the Federal Reserve is expected to announce its decision on interest rates in the United States. At the time of publication, the price of BTC today was quoted at $113.016, down 1,5% in the last 24 hours.
According to projections in the Polymarket betting market, there is a high probability of a 0,25% reduction in rates. If confirmed, the measure tends to benefit riskier assets, since lower interest rates reduce the appeal of traditional investments and may boost interest in cryptocurrencies.
Analysts point out that Bitcoin is at a decisive juncture. An interest rate cut could push the asset back above $120.000, while a more conservative approach could push the price below $100.000. The total market capitalization of BTC has fallen to approximately $2,25 trillion, maintaining a dominance of close to 59% over the market.
Ethereum also suffered a sharp correction, falling 3% and returning to below $4.000. Other altcoins such as Solana (SOL), Bittensor (TAO), Sui (SUI), Hedera (HBAR), and Ethena (ENA) retreated between 4% and 7% in the last 24 hours, amplifying the correction movement in the sector.
Bucking the market trend, Pi Network (PI) advanced 15%, reaching US$0,26, and leads the daily performance ranking among the top 100 cryptocurrencies. The TRUMP token also registered gains, rising 13%, and M, appreciating 4%. Overall, the cryptocurrency market capitalization fell 1,7%, estimated at around US$3,88 trillion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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