Bitcoin maintained levels above $76,000 following the Federal Reserve's unanimous decision to raise interest rates for the first time in three years, with a 12-0 vote. The cryptocurrency experienced sharp price swings throughout the week as investors reacted to major economic and political developments.
Earlier in the week, Bitcoin had declined to $75,000 after the Senate voted against the CLARITY Act, before recovering to $76,500 by Wednesday ahead of the Federal Reserve's announcement. Following the rate hike decision, BTC initially dipped to $75,000 before rebounding to trade around $76,500.
Bitcoin's market capitalization reached $1.530 trillion, while its dominance over altcoins retreated slightly to 58.7%.
Altcoin Strength Across the Board
Major altcoins posted gains despite the week's volatility. Ethereum traded near $2,450 with a daily gain of approximately 1.5%, while Solana approached $100. Binance Coin posted similar gains to Ethereum at around $725.
Zcash led altcoin movements with a surge exceeding 14%, trading above $1,350. Other notable performers included NEAR with gains up to 14.6%, along with UNI, DOT, and ENA showing strength. Rain token declined nearly 8%.
The broader cryptocurrency market capitalization increased to $2.610 trillion, reflecting a daily gain of over 1%.
