Ah, the whims of the market! The Fed, in its infinite wisdom, chose not to lower interest rates, yet Bitcoin, that capricious creature, decided to leap to a two-week high of over $87,500. Resistance? Pah! A mere trifle for the king of cryptocurrencies.
And lo, the altcoins joined the merry dance, with XRP leading the charge, basking in the glory of Ripple’s legal triumph over the SEC. A victory for the ages, indeed!
BTC’s Rollercoaster
Last week, Bitcoin was a bit of a sad sack, but by the weekend, it had mustered some dignity, hovering around $84,000. Then came Sunday, with its Hyperliquid-induced volatility, and Bitcoin was rudely rejected at $85,000, tumbling to $81,200 by Tuesday. Quelle horreur!
But fear not! By Wednesday, it had clawed back $2,000 in anticipation of the FOMC meeting. When the Fed announced no change in interest rates, Bitcoin threw a tantrum, bouncing up and down by $1,000. Ultimately, it surged to $87,500, a height unseen since March 7. Alas, it couldn’t hold its ground and now sits below $86,000, but still, it’s 2.5% up for the day. Not too shabby, mon ami!
Bitcoin’s market cap has swelled to $1.7 trillion, though its dominance over the alts has dipped slightly to 58.4%. The drama never ends!
XRP’s Moment in the Sun
Meanwhile, Ripple’s CEO, Brad Garlinghouse, declared on X that the SEC would drop its case against Ripple after four long years. XRP, ever the opportunist, surged from $2.3 to $2.6 before settling around $2.5. A fine performance, n’est-ce pas?
Other altcoins also joined the party: SOL (5%), SUI (5.5%), and UNI (8%) all made gains. ETH, BNB, ADA, DOGE, LINK, and XLM were also in the green, albeit more modestly. The total crypto market cap has added $70 billion since yesterday, now standing at a whopping $2.9 trillion. Sacré bleu!
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2025-03-20 13:21