{"id":8010,"date":"2024-09-19T08:54:48","date_gmt":"2024-09-19T08:54:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8010"},"modified":"2024-09-19T08:54:48","modified_gmt":"2024-09-19T08:54:48","slug":"these-alts-gained-the-most-after-feds-rate-cut-as-btc-tapped-23-day-peak-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8010","title":{"rendered":"These Alts Gained The Most After Fed\u2019s Rate Cut as BTC Tapped 23-Day Peak (Market Watch)"},"content":{"rendered":"

After weeks of anticipation, the US Federal Reserve finally cut the key interest rates by 0.5%, triggering a massive rally for bitcoin that sent it to a 3-week peak of over $62,600.<\/p>\n

Several altcoins have performed even better, with massive gains from the likes of BCH, NEAR, AVAX, SUI, TAO, and many others.<\/p>\n

Bitcoin\u2019s Fed-Induced Surge<\/h2>\n

This highly-anticipated week began with a price slip from bitcoin that drove it from over $60,000 to under $58,000 on Monday. This came after the substantial price surge at the end of the previous week when BTC neared $61,000 for the first time in weeks.<\/p>\n

However, the cryptocurrency didn\u2019t stay down long on Monday and soared past $61,000 on Tuesday as the hype for the Fed\u2019s actions was building up. Once the US central bank\u2019s meeting was concluded and Jerome Powell announced<\/a> a 50 basis point rate cut, BTC went on a real rollercoaster.<\/p>\n

It went up and down<\/a> several times from over $61,000 to $59,000 before the bulls<\/a> took complete control of the market and initiated a massive leg-up that pushed<\/a> the asset to $62,650 earlier this morning. This became its highest price tag since August 27.<\/p>\n

Despite losing some ground since then, BTC still stands close to $62,000 and is up by 3% on the day. Its market cap is above $1.220 trillion, while its dominance over the alts stands tall at 54.7% on CG.<\/p>\n

<\/a>Bitcoin\/Price\/Chart 19.09.2024. Source: TradingView<\/p>\n

Alts With Bigger Gains<\/h2>\n

The ever-more volatile altcoin sector has produced some really powerful price increases in the past day. Ethereum has added over 5% of value and now sits well above $2,400, SOL is up by 6% and stands close to $140, while SHIB, LINK, APT DOGE, and TON have gained somewhere between 5-8%.<\/p>\n

Furthermore, Bitcoin Cash, NEAR, SUI, TAO, STX, FET, and a few others have charted double-digit gains.<\/p>\n

Many lower-cap alts, such as POPCAT, SEI, TIA, and WIF, have also surged by double-digits, which has helped the total crypto market cap add about $100 billion daily. The metric is now at $2.240 trillion on CG.<\/p>\n

<\/a>Cryptocurrency Market Overview. Source: QuantifyCrypto<\/p>\n

The post These Alts Gained The Most After Fed\u2019s Rate Cut as BTC Tapped 23-Day Peak (Market Watch)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

After weeks of anticipation, the US Federal Reserve finally cut the key interest rates by 0.5%, triggering a massive rally for bitcoin that sent it to a 3-week peak of over $62,600. Several altcoins have performed even better, with massive gains from the likes of BCH, NEAR, AVAX, SUI, TAO, and many others. Bitcoin\u2019s Fed-Induced […]<\/p>\n","protected":false},"author":0,"featured_media":8011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8010"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8010"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8011"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}