Bitcoin Holds Steady Near $63,880 as Markets Await Fed Decision

Bitcoin has been holding steady near $63,880 as markets await the Federal Reserve's decision on interest rates. The cryptocurrency rose 0.96% in the past 24 hours, but its price action remains tied to Fed rate bets and whale accumulation trends.

Akshat Siddhant, Lead Quant Analyst at Mudrex, noted that Bitcoin is consolidating after briefly touching a 10-day low near $63,000. Despite liquidations of over $510 million and ETF outflows, whales have been buying nearly 19,700 BTC in the past eight days.

Ethereum, XRP, and Hyperliquid posted sharper gains than Bitcoin through the session, with Hyperliquid climbing 3.85% and XRP rising 2%. Ethereum extended its steady climb past $1,900. The Fed's rate decision is expected to have a significant impact on crypto markets.