Today, the global market capitalization has increased by 3.78% to $ 2.28 trillion. The significant increase followed the Fed’s report on Wednesday.
The total crypto market volume has also increased by about 22% in the last 24 hours to $116.40 billion
Bitcoin had fallen below $47,000 before the Fed’s rating gave it life and pushed it into the Höhe by more than $3,000. At the time of writing, Bitcoin is trading at $49,169.22, after an increase of 1.22% in the last 24 hours.
In addition to Bitcoin, Ethereum and the majority of altcoins are in the large range today, with most of them seeing an increase of more than 5% in the last 24 hours. Ethereum, which had fallen below $3,800, is now back above $4,000.
Bitcoin nähert after news of the US Federal Reserve 50.000 USD
After failing to overcome $49,000, Bitcoin (BTC) had slipped for three consecutive days to trade below $47,000.
However, after yesterday’s FOMC meeting in the US, at which the Federal Reserve is expected to announce its monetary policy and its plans to combat rising inflation, Bitcoin has received the momentum it needed to get another boost at $50,000.
The Federal Reserve said that it would not change the interest rates, which led to an immediate reaction within the crypto market and other financial markets. Bitcoin, for example, surged over $3,000 after the news, and other cryptocurrencies are stepping into its footprints.
Currently, Bitcoin is only about $800 below $50,000, which has led investors to speculate that it might be heading for a bull run on its way to Christmas.
Ethereum üover $4,000 as Altcoins Experience a Rally
In addition to Ethereum (ETH), most altcoins are recovering today.
In rare cases, apart from EOS and Near Protocol, all the other sixty top cryptocurrencies by market capitalization are all bullish.
Among the top 10 winners among the 100 largest crypto currencies by market capitalization are Kadena (KDA) with an increase of 29.14%, XDC Network (XDC) with an increase of 23.79%, Helium (HNT) with an increase of 20.88%, Arweave (AR ) with an increase of 20.52%, BORA (BORA) with an increase from 20.27%, Avalanche (AVAX) with an increase of 18.12%, Stacks (STX) with an increase of 16.84%, Elrond (EGLD) with an increase of 16.58%, THORChain (RUNE) with an increase of 13.99% and Fantom (FTM) with an increase of 13.97%.
The post Market Highlights: Crypto market capitalization gains over $60 billion first appeared on Coin Hero.