BTC Price Rises Above $105K After Fed Decision, LINK Up 7% Daily (Market Watch)
Bitcoin’s price experienced some expected volatility after yesterday’s FOMC meeting but has headed north and now sits above $105,000.
Most altcoins are in a similar position, with ETH increasing past $3,200 and SOL rising to $240.
BTC Above $105K
The primary cryptocurrency had a quiet weekend in which its price stood mostly in a tight range between $104,000 and $105,000. The landscape changed on Monday, similar to the previous one when the bears took charge of the market and initiated a substantial leg down.
Within hours during the morning Asian trading session, BTC plunged by several grand to a multi-week low of under $98,000. Nevertheless, the cryptocurrency didn’t stay there for long and went back into six-digit territory by the end of the day.
The next couple of days were a lot less eventful, aside from another brief decline toward $100,000. The market anticipated the Fed’s decision on Wednesday evening, and bitcoin stood still. Once the expected decision of no interest rate cuts was announced, BTC headed south by over a grand from $103,000 to $101,500.
However, it bounced off and has added roughly $4,000 since then to trade at $105,500 as of press time. Its market capitalization has neared $2.1 trillion on CG, while its dominance over the alts is well above 56%.
LINK Jumps 7%
Most alternative coins have followed BTC on the way up. Ethereum defended the $3,000 level and now sits above $3,200 following a 3% daily increase. Similar price jumps are evident from SOL, ADA, and TRX.
Chainlink has gained 6.5% on the day and now trades close to $25. Even more impressive gains come from the likes of SIU, LTC, HYPE, and ONDO.
The cumulative market cap of all crypto assets had added more than $100 billion in a day. As a result, the metric sits above $3.710 trillion on CG.
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