Bitcoin has regained ground, trading above $77,000 after a recent dip, with the broader cryptocurrency market showing modest gains. The altcoin Pi Network (PI) is among the top performers, having surged over 15% in the past week to a monthly high. Market participants are anticipating potential volatility stemming from today’s Federal Open Market Committee meeting.
Bitcoin’s price dipped below $76,000 but has since rebounded to over $77,000. This movement comes as uncertainty persists and ahead of a key Federal Reserve policy meeting.
Most larger-cap altcoins are slightly positive, with Ethereum reclaiming $2,300. Binance Coin is defending the $625 level, while Dogecoin has posted the most significant gains from this cohort.
The primary cryptocurrency had surged to a multi-month peak near $79,500 last week. It faced rejection at that level before declining to a multi-day low of $75,600.
Market experts anticipate more volatility following the FOMC meeting. Many believe it could lead to another market correction.
Ethereum, XRP, Solana, and other major assets are also in the green. Dogecoin has jumped over 7% to surpass $0.105.
The altcoin PI has jumped by more than 15% in the past week. It tapped a monthly high at $0.20 before being stopped.
Some analysts used this resurgence to outline massive price predictions. These included a potential 1,400% pump for PI.
The total crypto market cap has increased by roughly $50 billion from yesterday’s low. It now stands above $2.670 trillion according to data from CoinGecko.
