Bitcoin calls for $ 29,000 after the last interest rate increase of the Fed: market observation

Bitcoin calls for $ 29,000 after the last interest rate increase of the Fed: market observation

Although BTC remained relatively unchanged immediately after yesterday after yesterday, the asset climbed in the following hours and won $ 29,000.

The old coins have also become green with minor daily climbs. FTM has jumped the most of the mid-cap alternatives.

BTC recovers over $ 29,000

When April came to an end, Bitcoin initiated a high -altitude flight to drive it to $ 30,000. However, the bears caught the movement and pressed the asset very south. BTC was slipped to $ 27,600 just a few days later.

Although the cryptocurrency made up something on Wednesday, it was still unable to decide to win back $ 28,000. More volatility was later expected when the US Federal Reserve will meet and possibly announce a further interest rate increase.

Such an increase has actually been carried out, and the new interest rates of the central bank are now 5 %. Interestingly, however, Bitcoin did not react as usual and got stuck at just over $ 28,000. However, the trend began to change hours later, and BTC pumped around a giant.

From now on, the asset is traded over $ 29,000, and its market capitalization is just over $ 560 billion. Its dominance compared to the Alts has also increased somewhat to 47.1 % at CMC.

Btcusd. Tradingview

suis roller coaster

The alternative coins are, even though they are more volatile, remained relatively quiet even after the recent interest rate increase of the Fed. Ethereum is one of the largest winners among the top 10 with an increase of 2 %. As a result, ETH is now at $ 1,900.

Binance Coincardano, Dogecoin, Polygon, Solana, Polkadot, Shiba Inu and Avalanche are also slightly in the green during the day.

ftm has increased by over 6 % in the last 24 hours and thus the best performer in the top 50. The highly expected Sui token also started trading yesterday when the Mainset went live, and rose to $ 3.5 before it fell less than $ 1.5.

Overall, the entire crypto market capitalization of the $ 1.2-billion mark has approached after winning around $ 15 billion.

Overview of the cryptocurrency market. Quantify crypto