Global market sentiment rebounded after swaying sharply in response to the hawkish tilt in the Fed's decision to hold rates steady.
Reaction of crypto markets to the Fed's decision to hold rates steady has been broadly bearish in tone.
Cryptocurrencies are trading on a firm note ahead of the interest rate decision by the Federal Reserve, to be announced on Wednesday afternoon.
Sentiment in global markets remains tethered to anxiety surrounding the FOMC decision to be known by Wednesday afternoon.
Cryptocurrencies declined close to 2 percent in the past 24 hours as geopolitical tensions in the Middle East as well as disruptions in the Strait of Hormuz weighed on overall market sentiment.
Bitcoin, once dismissed as something reserved for geeks and the cryptography enthusiasts, is back in the limelight, as the price of the cryptocurrency appreciated in recent weeks.