Bitcoin Climbs to $64,400 Ahead of Fed Interest Rate Decision

Bitcoin is trading near $64,400 this morning, marking a 1.6 percent increase over the last 24 hours. The price recovery comes after the asset dipped below $63,000 yesterday, a level where buyers stepped in to prevent further losses.

The market is currently focused on the Federal Reserve announcement scheduled for this afternoon. Traders are watching the central bank closely as they weigh the possibility of significant interest rate changes, with some models suggesting a 30 percent chance of a larger than expected adjustment.

This volatility is normal as the market adjusts to upcoming economic data. Investors will be keeping a close eye on the Fed's commentary to gauge how current monetary policy might impact risk assets like crypto in the coming months.