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#HighlightPosts Bitcoin is rising on increasing risk appetite.
Bitcoin is rising on increasing risk appetite after news that China and the US will meet for the first time this week to discuss the trade war.
Patrick Mannelli noted in a memo that upcoming trade negotiations have raised optimism that tensions between the world's two largest economies may ease.
Mannelli said that this provided a temporary boost to the markets ahead of the Fed's decision at 9:00 PM, but further gains will depend on the outcome of negotiations between the US and China.
The Fed is expected to leave interest rates unchanged and reiterate its "wait and see" stance. Bitcoin rose by 2.35% to $96,935.40.