BTC Price Rises Above $105K After Fed Decision, LINK Up 7% Daily (Market Watch)

Bitcoin’s price displayed some anticipated volatility following yesterday’s FOMC meeting, but it has since surged, now surpassing $105,000.

Most altcoins mirror this upward trend, with ETH climbing above $3,200 and SOL reaching $240.

BTC Surpasses $105K

The leading cryptocurrency had a relatively calm weekend, maintaining its price within a narrow range of $104,000 to $105,000. However, the situation shifted on Monday when bearish activity took hold of the market, triggering a significant drop.

During the morning trading session in Asia, BTC fell dramatically to a multi-week low of below $98,000. Yet, it quickly recovered, returning to the six-digit range by day’s end.

The following days were much quieter, save for a brief dip toward $100,000. With the market awaiting the Fed’s announcement on Wednesday evening, bitcoin’s price remained stable. Following the expected decision against interest rate cuts, BTC experienced a decline of over $1,000, dropping from $103,000 to $101,500.

Nevertheless, it rebounded and has gained about $4,000 since then, trading at $105,500 as of the latest update. Its market capitalization is nearing $2.1 trillion according to CoinGecko, while its dominance over altcoins stands at over 56%.

LINK Rises by 7%

Many alternative cryptocurrencies have followed BTC’s upward trajectory. Ethereum successfully maintained the $3,000 level and has now increased above $3,200 with a 3% daily rise. Similar advancements are seen in SOL, ADA, and TRX.

Chainlink has risen 6.5% today, trading close to $25. Remarkable gains are also noted among SIU, LTC, HYPE, and ONDO.

The total market capitalization of all cryptocurrencies has increased by over $100 billion in a single day, currently sitting above $3.710 trillion on CoinGecko.