Bitcoin (BTC) Price Today: Cryptocurrency Market Sees Decent Gains Ahead of FOMC Meeting

Bitcoin (BTC), the world's oldest and most valued cryptocurrency, managed to rise above the $60,000 mark early Wednesday.

The world’s oldest and most valued cryptocurrency, Bitcoin (BTC), managed to rise above the $60,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mix of minor gains and dips across the board as the overall Market Fear & Greed Index stood at 38 (Fear) out of 100, as per CoinMarketCap data.

The Nervos Network (CKB) token emerged to be the biggest gainer of the lot, with a 24-hour jump of nearly 19 percent. The Maker (MKR) token became the biggest loser, with a 24-hour dip of over 3 percent.

The global crypto market cap stood at $2.08 trillion at the time of writing, registering a 24-hour jump of 2.33 percent.

Here's a look at the top crypto gainers and losers over the past 24 hours, as per CoinMarketCap data:

Top Crypto Gainers Today (September 18)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

1. Nervos Network (CKB) Price: $0.0186124-hour gain: 18.39 percent

2. Bittensor (TAO) Price: $323.6124-hour gain: 11.50 percent

3. Immutable (IMX) Price: $1.3724-hour gain: 10.19 percent

4. Beam (BEAM) Price: $0.01518 24-hour gain: 9.15 percent

5. Sui (SUI) Price: $1.1824-hour gain: 8.74 percent

Top Crypto Losers Today (September 18)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

1. Maker (MKR) Price: $1,474.4924-hour loss: 3.11 percent

2. Arweave (AR) Price: $18.5024-hour loss: 2.73 percent

3. Helium (HNT) Price: $6.7424-hour loss: 2.30 percent

4. Internet Computer (ICP) Price: $7.8224-hour loss: 2.28 percent

5. Mantra (OM) Price: $1.0524-hour loss: 1.95 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin saw its biggest intraday increase since August 8th jumping up 6.4% on Tuesday. With optimism around the Fed rate cut, BTC briefly attempted the $61,000 mark before investors decided to book some profits. The FOMC meeting outcome expected later today will decide the direction of the market. Currently trading at $60,200, BTC’s support levels have moved up to $59,000 and resistance at the $61,300 mark.”

CoinSwitch Markets Desk noted, “After a shaky start to the week, Bitcoin showed resilience yesterday, breaking above $61k before settling around the $60.5k level. BTC posted a solid 5% gain, while stock markets gave mixed signals, hovering near recent highs. Meanwhile, gold slipped by more than half a percent. Today marks a crucial moment for financial markets, with the US Federal Reserve’s long-awaited interest rate decision. Fed Chairman Jerome Powell is set to announce a potential 50 basis point rate cut—a move anticipated by the majority of experts. Regardless of the outcome, today is expected to bring heightened volatility, especially for BTC, which could swing in either direction. Altcoins are also showing strength alongside Bitcoin.”

Avinash Shekhar, Co-founder & CEO, Pi42, said, “As we approach the FOMC meeting, Bitcoin's recent surge reflects the market's anticipation of interest rate cuts. This moment underscores the evolving relationship between traditional finance and crypto, presenting both challenges and opportunities for the ecosystem."

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “The expectation of a Federal Reserve rate cut could affect Bitcoin’s price. Investors / traders have focused on two main potential areas: $61,300-$61,400 and $56,900-$57,300. If Bitcoin rises and

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