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Cryptocurrency Market Rises After US Fed Decision; Ethereum and Bitcoin Rise More Than 3%

Cryptocurrency Market Rises After US Fed Decision; Ethereum and Bitcoin Rise More Than 3%

Crypto Market Today: Following rallies in industry titans like Bitcoin and Ethereum, the cryptocurrency market cap was at $2.81T, up 3.23% from the previous day. While Ethereum crossed the $2,000 milestone, Bitcoin was trading near the $86,000 mark.

Cryptocurrency Market: Following the US Fed’s second consecutive decision to hold the interest rate steady, the cryptocurrency market is up more than 3% in the last day. The Sensex and Nifty surged more than 0.5% in early trading, indicating that the domestic share market has also embraced the US Fed’s move.

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The cryptocurrency market capitalization was $2.81T at the time of writing, up 3.23% from the previous day due to rallies in market titans like Ethereum and Bitcoin. While Ethereum crossed the $2,000 milestone, Bitcoin was trading near $86,000. In the meantime, the total volume of the cryptocurrency market over the past day was $105.01 billion, representing a noteworthy 47.24% growth.

DeFi’s overall volume was around $7.22 billion, or 6.88% of the 24-hour cryptocurrency market’s total trading volume. In contrast, the combined volume of all stablecoins was $98.45 billion, or 93.75% of the 24-hour total volume of the cryptocurrency market.
Following encouraging remarks from the US Fed, Bitcoin has risen above $85,000 today.

The Fed hinted at two rate decreases in 2025 in addition to ending quantitative tightening, even though it left interest rates constant. The S&P 500 and Nasdaq, two of the top US market indices, have also increased today, suggesting a broader shift in attitude, according to Vikram Subburaj, CEO of Giottus Crypto Platform.

Price Updates for Bitcoin, Ethereum, and Other Cryptocurrencies

Bitcoin was trading at $85,960..81 at 12:44 PM (IST), representing a 3.39% day gain. Ethereum crossed the $2,000 threshold and was trading at $2,014.94, up 4.10%. Dogecoin was trading as $0.1747, up almost 4% over the previous day, while Solana was up 8.82% at $134.60. During that period, XRP and BNB both increased by 10%.

After the Federal Reserve decided to keep interest rates unchanged while predicting two rate cuts in 2025, Bitcoin is soaring near the $86,000 mark, according to Shivam Thakral, CEO of BuyUcoin, a digital asset exchange. This action is in line with market expectations and has traders feeling upbeat.

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