Cryptocurrencies show mixed performance ahead of Fed decision

Cryptocurrencies traded mixed on Wednesday as investors awaited the Federal Reserve’s interest rate decision and potential signals on the direction of monetary policy for the remainder of the year.

Markets are also monitoring geopolitical developments, as the US and Iran prepare to formally sign a memorandum of understanding next Friday in Switzerland. However, uncertainty remains over how quickly the Strait of Hormuz will return to normal conditions that existed before the outbreak of the war.

*Prices updated at 10:13 a.m. Makkah time.