Federal Reserve Rate Decision Looms Will Bitcoin Break Out of Its Range

  • Sui Network up 137%, surpasses Aptos with strong futures market demand.

  • Crypto market downturn as traders await U.S. economic reports and Fed decision.

  • AI-driven cryptos surge, boosted by Apple’s new AI features in iOS update.

The crypto market is under a pullback as traders anxiously await key economic reports and the Federal Reserve’s upcoming interest rate decision. Bitcoin slid by 3% to below $58,500, dragging the total crypto market cap down by 4.5% over the weekend. This decline reflects ongoing uncertainty about the U.S. economic outlook and the Fed’s expected rate cut.

Sui Network Gains Momentum, Flips Aptos

Even as the crypto market stayed subdued, Sui, often referred to as the “Solana killer,” has also witnessed significant gains, surpassing Aptos to become the 27th largest crypto asset by market cap. Sui’s price surged by 137% from its low last month, reaching a peak of $1.10 on September 15. Additionally, open interest in Sui futures hit a record $295 million, signaling strong investor demand.

Bitcoin’s Price Action and the Fed’s Decision

Bitcoin has been trading within a range of $57,000 to $60,000 as traders anticipate U.S. economic dat…

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