Bitcoin Climbs, Pi Network Bounces Back

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BEAT has rocketed by over 30% in the past 24 hours after yesterday's crash.

Bitcoin’s price dipped below $62,800 yesterday in a de-risking move from investors ahead of the FOMC meeting, but it has rebounded swiftly to over $64,000 now.

Most larger-cap alts have turned green as well, with XRP aiming at $1.10 once again. UNI is up by over 5%, while ADA has gained more than 4%.

BTC Jumps Ahead of FOMC

BTC was rejected at $67,000 last week, and the subsequent leg down pushed it south to under $63,600 on Friday. The bulls finally stepped up after this rather substantial decline given the current dull market phase, and bitcoin remained at around $64,000 during most of the weekend.

It even climbed slightly on Sunday following some de-escalation news on the US/Iran front. More profound increases came on Monday morning when the asset priced in the lack of new attacks between the US and Iran and jumped to $65,600 on a couple of occasions.

However, it failed there quickly and tumbled hard on Tuesday. Just a day before the most unpredictable FOMC meeting in years, the cryptocurrency dumped below $62,800, losing $3,000 in less than a day.

Nevertheless, it has bounced off rather nicely over the past several hours, currently trading well above $64,000. Its market capitalization has risen to $1.290 trillion on CG, while its dominance over the alts has jumped to 57%.

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