Back in the game! Crypto and equities rally following Fed interest rate meeting
FOLLOWING weeks of sharp swings, crypto markets are experiencing their first significant rally.
Bitcoin (BTC) is trading above $86,000, while Ethereum (ETH) has reclaimed the $2,000 level.
The momentum has extended to altcoins, with Fantom (FTM) leading gains, up 9% overnight. XRP (XRP) has also surged after the SEC dropped its appeal against Ripple Labs. This development was announced by Ripple CEO Brad Garlinghouse, marking a significant legal victory for the company.
Analysts suggest that the Federal Reserve’s latest policy update may be driving this renewed optimism.
While interest rates remained unchanged, Fed officials indicated yesterday that two rate cuts could still be on the table for later this year. This has sparked renewed confidence across risk-on markets, including cryptocurrencies.
With sentiment improving, investors will be watching whether this rally has the strength to continue, or if macroeconomic uncertainty still looms over the market.
In the markets
🌍 Total crypto market cap ⬆️
The global cryptocurrency market capitalization is approximately $2.82 trillion, reflecting a 3.35% increase over the last day.
🟠 Bitcoin (BTC) ⬆️
- Price: Currently trading at $86,226.00, marking a 3.39% increase in the last 24 hours.
- Daily High: $87,429
- Daily Low: $83,377
💎 Ethereum (ETH) ⬆️
- Price: Currently trading at $2,017.65, reflecting a 4.00% increase in the last 24 hours.
- Daily High: $2,067
- Daily Low: $1,939.43
📈 S&P 500 ⬆️
The S&P 500 index is currently up by 1.08% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 31, indicating a state of Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 47, suggesting that the asset is neither overbought nor oversold.
Post Script…
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
