Bitcoin Holds Steady at $63K Ahead of Fed Meeting

Bitcoin held steady near $63,000 on Tuesday as investors awaited the outcome of the US Federal Reserve's policy meeting. Despite easing geopolitical tensions, Bitcoin and other major cryptocurrencies saw significant losses over the past day.

The world's largest cryptocurrency, Bitcoin, traded at $63,458, a 2.93% decline from the previous day. Ethereum fell 4.31% to $1,884, while several altcoins such as BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano dropped by up to 7.69%.

Nischal Shetty, founder of WazirX, noted that the immediate support zone for Bitcoin lies between $62,500 and $62,800. If it holds this range, buyers may step in and support a short-term recovery. However, a decisive break below could accelerate selling pressure and trigger long liquidations.

Avinash Shekhar, Co-Founder & CEO of Pi42, said that volatility is likely to persist in the near term, but long-term fundamentals remain intact due to institutional adoption, ETF participation, and digital asset infrastructure strengthening.