Cryptocurrency Prices Stay Flat as Traders Adopt Wait-and-See Approach After Fed Decision

Bitcoin (BTC) rose to a multi-week high of $64,741 and then quickly pulled back to $63,377 while Ethereum (ETH) rose to $2,680.

Cryptocurrency prices showed little variation on Sep. 23 as traders opted to adopt a wait-and-see approach following the Federal Reserve decision last week.

Bitcoin (BTC) price reached a multi-week high of $64,741 before quickly pulling back to $63,377, whereas Ethereum (ETH) price rose to $2,680.

This price action was mirrored by that of the stock market, as major U.S. indices like the Dow Jones, Nasdaq 100, and S&P 500 showed little movement.

However, some popular cryptocurrencies continued to rally. Neiro (NEIRO), a well-known meme coin, surged to a record high of $0.0012, bringing its market cap to over $484 million. It has become the ninth-largest meme coin, surpassing the likes of Book of Meme, Cat in a Dog’s World, and Mog Coin.

Immutable X (IMX) price soared to $1.9481, its highest level since June 4. It has risen for seven consecutive days, more than doubling from its August low.

Immutable's rally can be attributed to its growing popularity among game developers. Last week, Immortal Rising 2 was deployed on its zkEVM network, a significant milestone as the game has thousands of players globally.

Other newly launched games on the network include RavenQuest Phase 2, The Tree Verse, and Arise.

RavenQuest is now available to everyone! Phase 2 is live on Immutable. pic.twitter.com/RIxjFDhaBh

These games have led to an increase in NFT sales on Immutable. Data from CryptoSlam shows that total sales rose by over 16% to $3.4 million in the past seven days, led by Guild of Guardians Heroes, whose sales jumped by 17%.

Arkham (ARKM) price was another top performer, rising to a high of $1.42, its highest level since July 19. The token has gained popularity due to the extensive data available on its ecosystem.

Arkham price rebounded after forming a double-bottom chart pattern on the daily chart. In technical analysis, this is one of the most bullish signs in the market. It has risen above its neckline at $1.40, indicating potential for further gains.