Bitcoin’s price climbed above $101,000, fueled by stronger buying interest. The cryptocurrency now dominates 58.25% of the market, recovering from a recent slump caused by tech stock sell-offs.
The market’s focus is on the upcoming Federal Open Market Committee (FOMC) meeting, where the U.S. Federal Reserve is expected to keep interest rates steady at 4.25% to 4.50%. This decision could influence Bitcoin’s price further.
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%.
Traditional markets also showed gains, with the Nasdaq 100 up 1.8%, the S&P 500 rising 1%, and the Dow Jones increasing by 0.3%. U.S. Treasury yields also edged higher, with the 10-year yield closing at 4.546%.
