Bitcoin (BTC) Price Rallies Past $60k Ahead of FOMC Meeting, Altcoins Exhibit Mixed Patterns

The prices in the crypto market started the day with notable gains. Led by an upswing in the price of Bitcoin, major altcoins mirrored the same pattern earlier, but have now exhibited mixed trading patterns at the time of writing.

Crypto Prices Today: Leading cryptocurrency Bitcoin price showed signs of slowing down after rallying past the $61k mark earlier today. At the time of writing, BTC trades at $60,197, indicating a 2.46% increase in the last 24 hours.

The price of Bitcoin rallied past the $61k mark earlier today, fueled mainly by the coming FOMC meeting, rising spot ETF inflows, and overall stock market performance. BTC trades at $60,197 at the moment, showcasing a 2.46% rise in the last 24 hours.

Meanwhile, the broader crypto market valuation saw a notable uptick of 1.54% to rest at $2.08 trillion today. Additionally, the total market trading volume over the last day surged by 26.34% to $76.86 billion.

Investors are showing confidence in the market ahead of the meeting as demonstrated by the growing green patterns across the crypto market. Major altcoins also mirrored the same pattern earlier, but now exhibit mixed trading patterns at the time of writing.

After showing signs of slowing down in the past few days, the price of Bitcoin seems to be picking up the pace once again. The recent rally in BTC price could largely be attributed to the upcoming FOMC meeting, set to take place later today.

The meeting will conclude with an interest rate decision by the Federal Open Market Committee (FOMC) of the Federal Reserve. Economists polled by Trading Economics generally expect a 0.75% increase in the federal funds rate. However, some anticipate a smaller 0.50% hike.

Another driving force for BTC price is the increasing inflows into Bitcoin exchange-traded funds. According to data from Soso Value, Bitcoin ETFs saw a daily total net inflow of $186.76 million as of September 17.

In other news, Ethereum gained in the last 24 hours. On-chain data shows that the second-largest coin by market cap added 0.38% to its value to trade at $2,319. The coin trades in a range of $2,303.53 to $2,389.29 over the last 24 hours.

While BTC price is up in the last 24 hours, major altcoins also showed signs of slowing down with some posting minimal gains or losses. Solana (SOL) price today dropped notably by 1.27% over the past 24 hours and is currently sitting at $130.85.

From the lows of $130.44 and highs of $135.48 over the last day, SOL trades within a narrow range as its market cap stands at $61.2 billion at press time.

Also, XRP price declined by 1.52% in the past 24 hours to rest at $0.05766. From the lows of $0.05761 and highs of $0.05943, XRP trades in a range with a market cap of $32.5 billion.

In a recent XRP price prediction by Coinfomania, a notable crypto analyst Captain Faibik, stated that the price of XRP could surge to $2.4 soon, highlighting a long-term symmetrical triangle pattern in XRP’s price action that dates back to 2018.

If the apex of the triangle is reached, XRP could hit a maximum price of $2.4, indicating a potential 310% increase from its current price. However, if the support at $0.32 fails to hold, XRP might drop to $0.10 or even lower.

Binance Coin (BNB) spiked by 0.77% to trade at $543.08 and maintained a 24-hour range of $538.18 and $552.86 respectively. Tron (TRX) however, saw marginal dips last 24 hours.

The coin dropped 0.08% to change hands at $0.1499 with 24-hour lows and highs of $0.1495 and $0.1515 respectively. Fantom, a directed acyclic graph (DAG) smart contract platform, with the native token FTM, also saw marginal gains over the last day.

Per on-chain data, FTM increased by 0.62% to rest at $0.5668, maintaining a low and high of $0.5503 and $0.5835 respectively. However, its trading volume within that time dropped by 5% to $52.7 million.

It is important to note