Bitcoin traded in a tight range on Wednesday, as investors adopted a cautious stance ahead of the U.S. Federal Reserve’s latest policy decision, while major altcoins posted mixed performances amid subdued market sentiment.
The world’s largest cryptocurrency was trading at approximately $64,739.03 during European trading hours, down about 2.64 percent over the previous 24 hours, after briefly moving above the $65,700 mark earlier in the session. Bitcoin’s market capitalization stood at roughly $1.29 trillion, maintaining its position as the dominant digital asset with around 58.3 percent of the total cryptocurrency market.
The broader cryptocurrency market remained under pressure, with the total market capitalization hovering near $2.23 trillion.
Ethereum, the world’s second-largest cryptocurrency by market capitalization, traded at around $1,767.77, down 1.53 percent. Binance Coin (BNB) fell 1.96 percent to approximately $601.22, while XRP declined 3.51 percent to about $1.19. Solana also remained under pressure, slipping 3.47 percent to around $72.22. In contrast, Tron bucked the broader market trend, edging up 0.62 percent to trade near $0.3195.
Focus on Fed
Market participants remained focused on the Federal Reserve‘s interest rate announcement, with analysts expecting monetary policy guidance to influence risk assets, including cryptocurrencies. Investors are also closely monitoring spot Bitcoin ETF flows and institutional demand, both of which have weakened in recent weeks, contributing to the market’s range-bound trading conditions.
Despite recent volatility, Bitcoin has stabilized after recovering from earlier June lows, although it remains well below its record high reached last year. Analysts say stronger institutional inflows and clearer macroeconomic signals will likely be needed before the cryptocurrency can establish a sustained upward trend.
Investors are also watching regulatory developments and ETF demand as longer-term catalysts for the digital asset sector. Market analysts note that while macroeconomic uncertainty has weighed on sentiment, improving regulatory clarity and renewed institutional participation could support cryptocurrencies during the second half of 2026.
