Bitcoin Touches $35K, Rising To Yearly Highs, As FOMC Leaves Rates Unchanged — Dogecoin, Ethereum Spike: Analyst Says King Crypto's Rise To $37K Easy
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), experienced a surge following the Federal Open Market Committee’s (FOMC) decision to keep its benchmark fed funds rate range steady at 5.25%-5.50%. The global crypto market cap currently stands at $1.31 trillion, reflecting an increase of 2.82% in the past 24 hours. Stocks also surged on Wednesday, with the S&P 500 and the Nasdaq Composite both seeing gains. The bond market reacted to the interest rate decision, causing yields to slide.
November 02, 2023 | 2:52 am
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Bitcoin experienced a surge following the FOMC's decision to keep rates steady, surpassing the $35,000 mark.
The decision by the FOMC to keep rates steady has led to increased investor confidence, resulting in a surge in the price of Bitcoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin also experienced a surge following the FOMC's decision to keep rates steady.
The decision by the FOMC to keep rates steady has led to increased investor confidence, resulting in a surge in the price of Dogecoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ethereum also experienced a surge following the FOMC's decision to keep rates steady.
The decision by the FOMC to keep rates steady has led to increased investor confidence, resulting in a surge in the price of Ethereum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100