Bitcoin Breakout Looms Amid Cautious Market Sentiment

The cryptocurrency market is showing signs of momentum as selling pressure subsides on Thursday. Bitcoin (BTC) has notched three straight days of gains and is currently trading above $64,000, with bulls eyeing a potential breakout above the immediate $65,000 resistance.

Ripple's XRP is also extending its short-term advance as whale and retail demand strengthen, rising toward the pivotal $1.10 resistance on Thursday.

The Federal Reserve's decision to leave interest rates unchanged in the 3.50%-3.75% range has provided a neutral-to-slightly bullish outlook for Ripple.

However, traders should be cautious as renewed inflation concerns, fueled by the hawkish tone of the Federal Reserve and the escalating US-Iran conflict, continue to cap Bitcoin's upside momentum.