Crypto traders are waiting for the result of today's FOMC and it’s possible that the recent downside could reverse course if Powell’s statements hint at an improving U.S economy.

Bitcoin and select altcoins continue to consolidate near their recent highs, increasing the possibility of an upside breakout.

Bitcoin and the wider crypto market began to correct after the bullish momentum that drove last week’s rally to year-to-date highs started to fizzle out.

Bitcoin and altcoins appear to have shaken off the Genesis bankruptcy news by bouncing off their immediate support levels and rallying higher.