Bitcoin and the crypto market have shown slight positive momentum over the past 24 hours as investors see a nearly 70% chance of a 50 bps rate cut to the 4.7%-5% range, according to the CME FedWatch tool. This marks a sharp increase from Monday's 50% and August's 25% probabilities. Despite this, most of the market remains flat, with investors awaiting the Federal Open Market Committee (FOMC) meeting on Wednesday.

Bitcoin (BTC) is trading at $58,760, up 2% from its local bottom of $57,500 on Monday. Ether (ETH) continues to struggle with a bearish trend, trading at $2,307, as bulls try to recover from a 6.5% drop on Monday. Solana (SOL) and Ripple (XRP) have seen little change, while Dogecoin (DOGE) and Toncoin (TON) have gained 5%.

New memecoins like Neiro Ethereum (NEIRO) and Baby Doge Coin (1MBABYDOGE) have attracted attention, with NEIRO down 11% and 1MBABYDOGE up 23% following its Binance listing. Meanwhile, Sui (SUI), which has been trading downward since March, rebounded 23.65% over the past week, adding over 3% in the last 24 hours, with bulls eyeing a $2 rally.