Bitcoin and other cryptocurrencies are on pause as traders await the Federal Reserve's interest rate decision.
The price of Bitcoin has risen by less than 1% over the past 24 hours, hovering around $23,000.
Traders are optimistic about the crypto market after the recent shock bankruptcy of FTX.
The primary driver of the crypto market is the overall appetite for risky assets.
Earnings from tech giants like Apple, Alphabet, Amazon, and Meta Platforms will impact sentiment for tech and cryptocurrencies.
Investors hope the Fed will announce a more accommodative policy shift to keep the momentum of the recent market rally.
If the Fed falls short of expectations, it could lead to a selloff in the crypto market, with Bitcoin potentially spiraling downward.