The cryptocurrency market has resumed activity as the global market cap rose by 2.78%, reaching the $2.14 trillion mark. This move follows the U.S. Federal Reserve's decision to cut interest rates by 50 basis points, a first-time move in 4 years.
Bitcoin Prices Today
The Bitcoin price surged by 2.79%, reaching $62,116.43. Transaction volumes spiked by 15.78%. The run was fueled by optimism post the rate cut and Donald Trump using Bitcoin to pay for burgers.
Ethereum, Solana, and XRP Prices
Driven by positive market sentiments, Ethereum price reached back to $2,400, with gains of 4.29%. Solana, BNB, and XRP also followed suit with increases of 5.91%, 2.98%, and 1.42% respectively.
Top Gainers and Losers in the Market
Top gainers today include SEI, up by 22.35%, Popcat, rising by 21.65% to $0.8702, and Fantom, continuing its uptrend with a 16.08% increase to $0.6631. Top losers include CKB, down by 7.76% to $0.01792, KCS token dropping by 3.64% to $7.44, and XMR decreasing by 2.10% to $170.89.
Following the announcements by the U.S. Federal Reserve, the cryptocurrency market experienced a significant increase, reflected in the fear and greed index moving to a neutral score of 44. As a result, 24-hour trading volumes rose by 18.66% to $91.69 billion.
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