Hold onto your hats, crypto enthusiasts, because AVAX is making waves among the big boys!
Bitcoin's price surge started after the US Federal Reserve decided to cut interest rates on Wednesday, catapulting BTC to a multi-week high of over $64,000 just hours ago.
Not to be left behind, the altcoins are having their own party. Ethereum is breaking barriers, zooming past $2,500, while Binance Coin (BNB) has rocketed over $570.
This rollercoaster week kicked off with a bit of a dip on Monday, where Bitcoin tumbled from over $60,000 to under $58,000 in just a few hours. But the bulls weren't having any of that and quickly took the reins, pushing BTC back over $61,000 just before the Fed's big meeting on Wednesday.
After the Fed announced a 0.5% cut in key interest rates, Bitcoin went on a wild ride. Despite the ups and downs, the bulls emerged victorious, at least for now, and triggered a remarkable rally.
Yesterday, Bitcoin hit $63,000 for the first time in three weeks. And earlier today, it briefly soared past $64,000, a level we haven't seen since late August.
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However, Bitcoin's ascent has paused, and it's now sitting about a grand lower but still up 2% for the day. This has boosted its market cap to a whopping $1.250 trillion. Yet, its dominance over altcoins has slipped to 54.3%, down from over 55% yesterday—the highest in nearly four years.
While Bitcoin has been the star of the show, the altcoins are shining bright too. Solana and Avalanche are leading the pack with roughly 9% gains, hitting $151 and $28, respectively.
Chainlink and Ethereum have also added about 5% in value. ETH, in particular, has skyrocketed to its own multi-week high of $2,550.
But wait, there's more! The biggest daily winners include TAO (15%), APT (12%), CORE (12%), JUP (11%), SUI (11%), and LDO (11%).
The total crypto market cap has ballooned by another $70 billion overnight, surpassing $2.3 trillion.
Stay tuned, folks—this crypto rollercoaster is just getting started!
