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In the past day, following the release of the Fed minutes and Jerome Powell’s statements in the evening, there was a sharp rise in cryptocurrencies. A general upward trend was observed in the market, especially for Bitcoin. However, it was also noteworthy that one altcoin within the top 10 experienced a decline. As Bitcoin’s price touched $65,000, let’s take a look at the latest situation in cryptocurrencies at the beginning of the weekend.
What is the Bitcoin Price?
After the Bitcoin drop at the beginning of the week, prices showed a recovery with the announcement of the Fed minutes. In recent weeks, the BTC price had been stuck between $58,000 and $60,000, and in a broader perspective, between $61,000 and $50,000.
The outlook changed mid-week and took on a completely different dimension after Jerome Powell’s statement last evening.
Today, the BTC outlook indicated a positive situation in the indicators. BTC price rose by 5.15% in the last 24 hours. With the rise, BTC is seen finding buyers above $64,000. Along with the price increase, the market cap also rose above $1.263 trillion again.
BTC’s 24-hour trading volume also showed a noticeable increase. The trading volume exceeded $36 billion seen during the week and, after a 67% rise today, settled above $43 billion.
Which Altcoins Rose?
After Bitcoin, attention turned to its closest follower, Ethereum. ETH price rose by 3.14% in the last 24 hours, climbing back above $2,700. This rise also pushed the 7-day price movement upwards to 5.94%.
Binance’s native token BNB, the third largest by volume in the crypto market (excluding stablecoins), was the only notable altcoin to experience a drop today. BNB’s price movement in the last 24 hours was a 0.72% drop, finding buyers around the $578 region.
SOL, one of the most talked-about altcoins in the crypto world, also showed a dominant rise today. SOL rose by 5.97% in 24 hours, climbing back above $150 to reach $154.46.
XRP, one of the biggest uncertainties due to ongoing lawsuits, once again surpassed $0.60 and is finding buyers at $0.6086.
TON coin, which has been experiencing declines for days, rose by 1.70% and is once again moving towards $7. As of the time of writing, TON is trading around $6.69. DOGE moved away from the $0.10 resistance to $0.1127, while TRX, after a 20.73% rise throughout the week, is at $0.1627.
