Bitcoin and Altcoins Bounce Back After Fed’s Interest Rate Decision: Market Watch
Main Idea
Bitcoin and most altcoins experienced volatility and recovery following the FOMC meeting, with notable gains in ETH and ENA.
Key Points
1. BTC recovered from a 14-day low of under $114,500, climbing toward $120,000 ahead of the FOMC meeting.
2. The Fed maintained interest rates, causing some volatility, with BTC currently around $116,000 and a market cap of $2.360 trillion.
3. ETH rose past $3,850 with a 1.5% daily increase, and XRP surpassed $3.15 with a similar gain.
4. ENA surged over 16% to $0.675, emerging as the top performer among altcoins.
5. The total crypto market cap increased by $30 billion overnight.
Description
Bitcoin’s price actions went through some volatility yesterday, especially after the conclusion of the latest FOMC meeting, but the asset has managed to recover the losses. Most altcoins are also in the green today, with ETH climbing back toward $3,900 and ENA exploding by double digits once more. BTC Recovers After FOMC Meeting After the correction at the end of the previous business week, which drove BTC to a 14-day low of under $114,500, the primary cryptocurrency managed to recover most loss...
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