After a sharp decline on Monday, Bitcoin took control as bulls took control, pushing BTC above $61,000 to a 3-week high 🚀. The move comes as the US Federal Reserve is planning to cut interest rates for the first time in years.

Ethereum rose 4% to $2,400, while Binance Coin revisited $550. XRP, on the other hand, gained 3.8% on the day, approaching $0.6.

A total of $123 million was liquidated. BTC shorts led the way at $47 million. More than 42,000 traders lost.

This week is critical for all financial markets as the US Federal Reserve will announce its decision on interest rate cuts. Most experts predict interest rates will fall by 0.25%.