Bitcoin hits $37.5K, stocks recoup losses ahead of Wednesday’s FOMC

The dominant sentiment of doom and gloom in the crypto market shifted toward hope on Jan. 25 after the price of (BTC) climbed to $37,500 briefly as stock markets staged a midday rally that recovered most of the losses from Jan. 24.

Even with Jan. 25’s recovery, global markets remain in a state of flux, primarily due to uncertainty over the U.S. Federal Reserve’s plan to raise interest rates in the coming months, with the latest signal indicating that the first rate hike will come in March.