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Bitcoin and Altcoins Show Recovery After Fed's Rate Decision

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by Giorgi Kostiuk

21 hours ago

The cryptocurrency market experienced volatility after the FOMC meeting, but major crypto assets showed recovery.

BTC Recovers After FOMC Meeting

Bitcoin (BTC) faced volatility after the Fed's decision to keep interest rates unchanged. Following a drop to a 14-day low of under $114,500, Bitcoin managed to recover some of its losses, reaching around $118,000. However, resistance proved too strong, causing BTC to dip below this level again before bouncing back toward $119,000.

Altcoin Performance

Altcoins showed positive performance, with many assets rising in price. Ethereum (ETH) climbed above $3,850, while XRP returned over $3.15. ENA emerged as the top performer again, surging more than 16% to $0.675.

Market Overview

The total cryptocurrency market cap increased by $30 billion, reaching $3.970 trillion. Bitcoin's dominance over the altcoins stands at 59.4%.

The crypto market demonstrates recovery following recent fluctuations, with Bitcoin and more than half of the altcoins in the green, indicating investors' positive sentiment.

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