Bitcoin Nears $60K Amid Market Optimism and Upcoming Fed Rate Decision

Cryptocurrencies show mixed performance as investors await Federal Reserve's interest rate cut decision next week.

Bitcoin has surged nearly 6% this week, recovering from a low of $53,800 to trade around $58,000 to $59,700.
Ethereum has underperformed Bitcoin recently, with analysts forecasting a potential bottom in the next 2-4 months.
XRP and Dogecoin lead market gains, buoyed by Grayscale's new fund for XRP and positive sentiment for Dogecoin.
The Federal Reserve's expected interest rate cut next week is a key event, with market participants divided on the size of the cut.
U.S. spot Bitcoin ETFs experienced outflows, despite the broader market rally and positive economic indicators from tech stocks.