Bitcoin price was volatile as expected during and after the FOMC meeting, but the price of Bitcoin turned bullish after the meeting and is currently above $105,000.
Most altcoins also rose, with Ethereum crossing $3,200 and Solana above $240.
Bitcoin rises above $105,000:
The cryptocurrency Bitcoin had a quiet weekend in a tight range between $104,000 and $105,000.
However, the scene changed on Monday when bears pressured the market, leading to a significant decline that took Bitcoin below $98,000, its lowest level in weeks.
But Bitcoin did not stay there for long, and quickly returned to the six-figure area.
Bitcoin price remained stable until Wednesday evening as the Fed decision was awaited.
Once the no-rate cut announcement was made, Bitcoin temporarily retreated to $101,500 before rallying again, adding around $4,000 to $105,000 and holding above that level at press time.
Bitcoin’s market cap has risen to $2.1 trillion, while its altcoin dominance has strengthened above 56%.
Most altcoins have followed Bitcoin’s upward trend, with Ethereum surpassing $3,200 with a 3% daily gain, and SOL, ADA, and TRX posting similar gains.
LINK stood out with a 5% daily gain to nearly $25, while other coins like SIU, LTC, HYPE, and ONDO saw strong gains.
Across the market as a whole, the total market cap has added over $100 billion in a single day, surpassing $3.7 trillion, according to coingecko.
