Avalanche Breaks $30 as Bitcoin Holds Near $116K Ahead of Fed Decision

The crypto market turned green on Tuesday, with Bitcoin stabilizing near $115,500 and Avalanche (AVAX) leading gains among major altcoins.

Bitcoin Steadies Before FOMC

Bitcoin faced heavy resistance near $116,800 at the start of the week, triggering a swift correction to $114,400. The dip was short-lived, however, as the asset rebounded to retest $116,000 in early Tuesday trading.

BTC is now hovering just above $115,500 with traders anticipating heightened volatility in the coming days as the U.S. Federal Reserve prepares to announce its interest rate decision. The leading cryptocurrency commands a $2.3 trillion market cap, representing 56% dominance over altcoins.

Altcoins Rebound

Most large-cap altcoins have also recovered after Monday’s pullback. Ethereum briefly dipped below $4,500 but has since stabilized just above the key support zone. XRP is holding firm at $3, while BNB, Dogecoin, Solana, Tron, Chainlink, and Sui are posting modest daily gains.

Avalanche and IMX Outperform

Avalanche has emerged as the standout performer, surging more than 7% to reclaim the $30 milestone. Stellar (XLM), Monero (XMR), and Mantle (MNT) also recorded notable gains.

Immutable (IMX) jumped 15% to $0.73, reclaiming a spot in the top 100 cryptocurrencies by market cap.

In total, the digital asset market added over $40 billion in value since yesterday’s low, with overall capitalization climbing to $4.11 trillion, according to CoinGecko.