Bitcoin price fluctuated as expected after yesterday’s FOMC meeting but is now moving north and above $105,000.
Most altcoins are also showing similar trends, with ETH rising above $3,200 and SOL surging to $240.
The major cryptocurrency had a quiet weekend, with prices remaining in a tight range between $104,000 and $105,000. However, things changed on Monday when the market was dominated by sellers, resulting in a significant decline.
Within a few hours of the morning trading session in Asia, BTC plunged several thousand dollars to a multi-week low below $98,000. However, it did not last long there and returned to six-digit levels by the end of the day.
The next two days were more stable, although there was another brief drop towards $100,000. The market awaited the Federal Reserve (Fed) decision on Thursday morning, and Bitcoin remained flat. As soon as the expected no-rate cut decision was announced, BTC fell over $1,000 from $103,000 to $101,500.
However, it quickly rebounded and has added about $4,000 since then, currently trading at $105,500 at the time of writing. BTC’s market cap is approaching $2.1 trillion on CG, while its dominance over altcoins is over 56%.
Most altcoins followed BTC’s rise. Ethereum managed to hold onto $3,000 and is now above $3,200 after a 3% daily gain. Similar price surges were seen on SOL, ADA, and TRX.
Chainlink rose 6.5% and is now trading at nearly $25. Bigger gains were recorded by SIU, LTC, HYPE, and ONDO.
The total cryptocurrency market cap increased by over $100 billion in a day. As a result, this metric now exceeds $3.710 trillion in CG.
