Bitcoin Holds Near $66K as Altcoins Rally Ahead of Fed Rate Decision

Bitcoin traded near $65,800 on Wednesday as investors waited for the Federal Reserve’s first interest rate decision under new Chair Kevin Warsh. The world’s largest cryptocurrency remained mostly unchanged over the past 24 hours but still recorded a weekly gain of more than 7%.

While bitcoin moved sideways, traders shifted attention toward altcoins. Uniswap’s UNI token surged 22.5% after Standard Chartered released a bullish long-term outlook, calling the decentralized exchange an important part of the growing on-chain financial system. The bank projected UNI could reach $100 by 2030.

Solana, Ether and HYPE Post Strong Weekly Gains

Hyperliquid’s HYPE token climbed nearly 8% in a single day and more than 34% over the week. Solana gained close to 15% during the same period, while ether rose above $1,790 with a weekly increase of more than 10%. XRP slightly declined despite broader market strength.

US-Iran Deal and Falling Oil Prices Support Risk Assets

Market sentiment also improved after oil prices dropped sharply following reports of a possible US-Iran agreement that could reopen the Strait of Hormuz and increase global oil supply. Lower oil prices eased inflation concerns and boosted expectations that the Fed may adopt a softer tone on interest rates, a key factor now shaping crypto market direction.