Bitcoin regained the $83,000 level after dropping to $81,000 yesterday, ahead of the Federal Open Market Committee (FOMC) meeting.
The price of Bitcoin has experienced notable fluctuations recently, as it fell below $77,000 last week before stabilizing above $80,000.
Despite attempts to rise towards $85,000, every upward wave faced a quick corrective drop, as occurred over the weekend and on Monday.
After falling to $81,500 on Tuesday, it has recovered again to trade currently above $83,000 and near the $84,000 level.
All eyes are now on the Federal Reserve's decision regarding interest rates, where no change is expected, but Bitcoin may experience volatility in reaction to the meeting.
Currently, the market capitalization of Bitcoin is $1.63 trillion, with a slight decline in its dominance to 58.4% according to CG.
As for alternative cryptocurrencies, most followed Bitcoin's movement and fluctuated noticeably, with some recording significant gains such as TRON, Ethereum, Ripple, and Solana.
Among the top gaining cryptocurrencies, HYPE jumped over 12% to $15, while PEPE rose by 8% surpassing $0.0000072.
Overall, the total market capitalization of cryptocurrencies increased by $25 billion, reaching $2.80 trillion, yet it is still far from its record level above $3 trillion.