CandleFocus These Alts Gained The Most After Fed’s Rate Cut as BTC Tapped 23-Day Peak (Market Watch)
2024-09-19
Author: Content Editor
The US Federal Reserve has cut key interest rates by 0.5%, leading to a significant rally in the price of bitcoin, which reached a three-week high of over $62,600. Several altcoins, including BCH, NEAR, AVAX, SUI, and TAO, also saw substantial gains. Despite a brief slip in price on Monday, bitcoin quickly recovered and soared past $61,000 on Tuesday following the Fed's rate cut announcement. The altcoin market has also experienced increased volatility, with ETH, SOL, SHIB, LINK, APT DOGE, and TON all seeing price increases of 5-8%, and several lower-cap altcoins charting double-digit gains. This has contributed to a $100 billion daily increase in the total crypto market cap, which now stands at $2.240 trillion.
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