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The major cryptocurrencies rose on Thursday, ahead of the US Federal Reserve’s interest rate announcement tomorrow.

At roughly 12.49 p.m., Bitcoin was trading 0.18% lower at $34,278, while its largest peer, Ethereum, was trading at $1,797, up 0.44%.

Bitcoin is up 27% in October and is expected to conclude the month at $34,000 with significant gains. Based on the previous year’s halving, November may experience a small pullback to keep the market healthy. Bitcoin must maintain a solid support level of $33,200 in order to advance. This week, Bitcoin’s supremacy has dipped slightly while Solana, Polkadot, and XRP have all seen daily gains.

Bitcoin has been trading around $34,300 in the last 24 hours as traders await the US Federal Reserve’s interest rate decision on Wednesday. To continue its upward trend, Bitcoin must break through the $34,700 resistance level, or it risks finding support near $34,000.

Meanwhile, the worldwide cryptocurrency market cap increased by 0.37% in the last 24 hours to roughly $1.27 trillion.

Solana and Chainlink, two popular altcoins, climbed 9.9% and 5.13%, respectively. Also trading higher were XRP, Tron, Cardano, Toncoin, Polygon, Polkadot, and Litecoin.

The overall volume in DeFi is currently $4.17 billion, accounting for 10.2% of the entire 24-hour activity in the crypto market. The total volume of all stablecoins is now $36.65 billion, accounting for 89.63% of the total 24-hour volume of the crypto market.

Bitcoin’s, the world’s largest cryptocurrency, market cap has dropped to $667 billion in the previous 24 hours. According to CoinMarketCap, Bitcoin presently has a 52.7% market share. BTC volume increased by 35.8% in the last 24 hours to $17.2 billion.

Bitcoin gained 15% in a week and now confronts resistance around $35,000, while Ethereum is slightly above $1,765. The following week will be distinguished by macroeconomic events that may have an impact on the cryptocurrency market, such as the Federal Reserve meeting and the US jobs report. Despite the upward trend, Bitcoin volatility necessitates meticulous analysis on the part of traders.