The price of Bitcoin surged past $101,000, driven by increased buying interest. The cryptocurrency now holds 58.25% of the market, bouncing back from a recent dip triggered by tech stock sell-offs
The U.S. Federal Reserve is anticipated to maintain interest rates at 4.25% to 4.50% at the next Federal Open Market Committee (FOMC) meeting, which has the market’s attention. The price of Bitcoin may be further impacted by this decision.
Despite Bitcoin’s rise, the global crypto market is down 1.39% in the past 24 hours, with a total market cap of $3.44 trillion. Trading volume dropped sharply by 43.95%, settling at $119.1 billion. Of this, decentralized finance (DeFi) accounted for $8.07 billion (6.78%), while stablecoins dominated with $107.44 billion (90.21%).
Bitcoin held steady at $101,761, though its 24-hour trading volume fell 44% to $48.65 billion. Ethereum, the second-largest cryptocurrency, dipped slightly to $3,109, while other major digital assets saw mixed results:
- XRP gained 3.3%.
- Solana and BNB lost 2.6% and 0.9%, respectively.
- Dogecoin fell 2.8%, and Cardano dropped 0.6%.
With the Nasdaq 100 up 1.8%, the S&P 500 up 1%, and the Dow Jones up 0.3%, traditional markets also saw gains. Additionally, U.S. Treasury yields increased slightly; the 10-year yield ended the day at 4.546%.
