Meetings From Latest Feds Meeting Help Bitcoin Price To Surge Significantly
The trading price of Bitcoin (BTC) and the rest of the major cryptocurrencies were able to witness a slight recovery in the latest trading session.
It is mainly because of the promising November meeting minutes published by the US Feds. The minutes are in favor of showing flexibility toward the interest rate hikes, a positive sign for crypto.
Due to the latest update from the Feds, the entire cryptocurrency market has witnessed a surge. The overall market valuation of the cryptocurrency industry has witnessed a noteworthy recovery in the past 24 hours.
Overall Crypto Market Performance
The latest crypto market trading session has helped surge the entire crypto market’s valuation.
A look at the overall data from CoinMarketCap shows that the overall crypto market valuation has risen 21% in the past 24 hours.
Taking into consideration the performance of the cryptocurrency market throughout the ongoing month, this is a major boost recorded by the cryptocurrency market.
It is quite a spectacle for the entire cryptocurrency market and a promising movement in the upward direction.
Performance of Major Cryptocurrencies
The strong and promising comments from the Feds have pumped up the investors. The investors are actually coming back to the cryptocurrency markets to invest in their preferred assets.
The report shows that the trading price of Bitcoin (BTC) has recorded a significant boost. In the past 24 hours, the value of Bitcoin has surged to a high of $16,769.
After hitting the high trading level, the value of Bitcoin experienced a slight correction and its value came down to $16,702 and settled there.
Ethereum has also recorded a significant push in the past 24 hours. The value of ETH has surged more than 3% and it is now floating at a high of $1,211.
BTC and ETH are not the only assets that have demonstrated a strong performance in the recent trading session. All other altcoins ranked as the top 20 assets have also demonstrated strong performances.
Litecoin Stole the Show
However, Litecoin (LTC) has proven to be the show-stopper in recent trading sessions. Its value has recorded a great push in the past 24 hours, being surged over 20%.
Even in the past 7 days, LTC’s price has surged over 35%, a level no other cryptocurrency has managed to hit in the recent trading sessions.
Solana is Also Shining
Although the FTX crash has caused huge damage to the overall reputation of Solana (SOL) since November 7, but it seems to have performed lately as well.
The report shows that even SOL’s price has surged 10.5% in the past 24 hours. At the time of writing, SOL seems to be exchanging hands at a high of $14.55.
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