Bitcoin Bounces Back Above $64K After FOMC-Induced Sell-Off

Bitcoin's price rebounded above $64,000 on Wednesday after briefly falling below $62,800, recovering from a sharp decline triggered ahead of the Federal Open Market Committee meeting.

The sudden drop on Tuesday was a result of two failed attempts to hold $65,600 on Monday and a loss of roughly $3,000 in less than one day. The recovery restored a key psychological level but did not erase the violence of Tuesday's reversal.

Large-cap altcoins also saw gains during the recovery, with XRP rising 3% to around $1.09, ADA advancing 4.4% to $0.165, and Ether reclaiming $1,900. UNI added more than 5%, while smaller tokens like BEAT surged 35% to $3.75 after a previous day's collapse.

The total cryptocurrency market recovered about $40 billion from Tuesday's low, reaching roughly $2.27 trillion. However, the strongest rebounds appeared in assets that had recently suffered the sharpest damage, leaving the market balanced between bargain hunting and caution ahead of the FOMC decision.