Crypto Price Today: Bitcoin holds above $29,200 ahead of FOMC outcome; XRP, Dogecoin rise up to 3%

economictimes.indiatimes.com:

cryptocurrency markets were majorly trading higher on Wednesday. Bitcoin (BTC) rose 0.22% to $29,212, whereas Ethereum (ETH) was just above the 1,850 level. BTC volume stood at approximately $10.78 billion, falling 26.09% in the last 24 hours. «Bitcoin's value remained below the US$29,500 threshold as investors eagerly awaited the U.S. Federal Reserve's decision, scheduled for later today. Although BTC experienced a dip to a one-month low at the beginning of the week, it has been gradually rebounding,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens, XRP, BNB, Dogecoin, and Solana were also trading higher. Meanwhile, the global cryptocurrency market cap was trading higher, around $1.18 trillion, rising 0.40% in the last 24 hours.

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The total volume in DeFi is currently at $2.38 billion, 8.99% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $23.96 billion, which is 90.48% of the total crypto market 24-hour volume. The market cap of Bitcoin, the world's largest cryptocurrency, was around $568 billion. Bitcoin's dominance is currently 48.32%, a decrease of 0.08% over the day, according to CoinMarketCap. «BTC was able to maintain the $29k price mark even amidst a bearish sentiment amongst traders, especially after a 3% dip on Monday. If we compare BTC's current price action with its historical performance during the last bull run, BTC found support