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Cryptocurrencies Price Prediction: Bitcoin, Cryptos & Ethereum – American Wrap 23 September

Bitcoin holds steady over $62,000 as post-Fed rally fades

Bitcoin (BTC) halts the recent positive movement and stabilizes above its key psychological level of $62,000 on Monday after a nearly 7.5% rise last week. On-chain data hints at a neutral sentiment among BTC’s traders at a rally in Bitcoin's price as more traders bet on the asset's rise. However, the US spot Bitcoin Exchange Traded Funds (ETFs) experienced a slight decline in inflows week-on-week.

Bitcoin (BTC) traded above $64,500 on Monday for the first time in nearly a month before seeing a slight correction. The largest asset by market capitalization trades just above $63,000 at the time of writing. Bitcoin could extend its gains to $65,378 if it sustains its move above the $62,000 psychological level.

On Sept. 18, the Federal Open Market Committee (FOMC) made a pivotal decision that significantly impacted risk-on assets. The Federal Reserve cut interest rates by 50 basis points, setting a new target range for the federal funds rate at 4.75% to 5.00%.
 

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