Bitcoin’s gradual rise began at the beginning of the trading week with BTC surging to $116,000 on Friday. That’s when the price action started to run into resistance.
BTC was unable to continue its climb over the weekend but managed to hit $116,800 on Monday, before being pushed down to $114,400 on the same day. BTC started to gain momentum and surged to $117,200 yesterday ahead of the much-anticipated FOMC meeting.
Bitcoin was relatively flat but got a boost by surging in the early morning session on Thursday to a multi-week high of nearly $118,000. At this point, BTC is trading at $117,661.20. The market cap has risen to $2.335 trillion on CG, with alt dominance having eased considerably and dropped to 55.6%.
HYPE, BCH, HBAR, LINK, SOL, DOGE, and ADA all recorded price increases of up to 6%. BNB added 4.5% on the day, but managed to break through $1,000 to set a new ATH earlier today. Ethereum is nearing $4,600, while XRP is at $3.1.
The total crypto market capitalization has increased by $60 billion since early this morning and is now over $4.2 trillion on CG.
