Big Gains From ZEC and HYPE, BTC Price Stable Above $64K: Market Watch

After testing the $62,000 support on a couple of occasions since August began, bitcoin has managed to weather the storm and now sits above $64,000 as markets expect a Strait of Hormuz deal to be announced today.

Most larger-cap alts have produced contracting performances over the past day. XMR, XRP, and XLM are in the red, while HYPE and ZEC have posted notable gains.

BTC Reclaims $64K The US Federal Reserve FOMC meeting brought some intense volatility to the crypto market, as BTC slumped from $65,600 to $62,800 before the event, and then jumped back to over $65,000 a day after it.

However, the predominantly bearish market sentiment prevailed, and the asset was rejected at $65,300 on Friday morning. The subsequent rejection was quite painful, as bitcoin dropped to $62,400 within hours.