**Bitcoin Rebounds as Market Awaits FOMC Decision**

Bitcoin has made a swift recovery, reclaiming the $61,000 mark in the past 12 hours, coinciding with the S&P 500 hitting a new all-time high. Market participants are now bracing for potential volatility ahead of the Federal Open Market Committee (FOMC) meeting, where rate cut announcements are expected.

Historically, rate cuts have often led to short-term drops in the S&P 500. With Bitcoin and major U.S. stocks showing a high correlation, a similar dip could be anticipated for Bitcoin. However, if a recession is avoided, both Bitcoin and the S&P 500 could see gains in Q4.