Bitcoin (BTC) 
$94,492 price has surpassed $60,000 again, reaching $60,400 at the time of writing. While this news is positive for altcoins, we have previously witnessed similar movements that reversed quickly before the Fed’s interest rate decision. What do experts say? Will Bitcoin’s rise continue?
Cryptocurrencies on the Rise
BTC price increase has led altcoins to rise by 3%. Assets like DOGE, ETH, and SHIB have turned green once more. Expectations of a 50 basis point cut from the Fed are triggering short-term fluctuations. Predictions for the three-year interest rate roadmap, to be announced on Wednesday, will be crucial for medium-term performance. The S&P 500 reached a new all-time high today at 5,699.
For the leading cryptocurrency, critical levels to watch are $61,700, and with closures above this, bulls may target $63,000. Investors should remain alert as selling pressure from the peak in U.S. markets may reverse trends in crypto.
An analyst known as AskCryptoWealth shared the above graph, highlighting the volatility risk in the short term. The analyst aims for $66,342, hoping that the rally will accelerate beyond this point.
Economists are focusing on the messages about the health of the U.S. economy ahead of Wednesday’s impending interest rate decision.
