Bitcoin Jumps 3.23%, Ether UP 6.43% Before US Fed Policy Announcement, Nasdaq Up By 2.5%

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oi-Kuntala Sarkar

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The crypto market has been showing a volatile trend today, before the US Fed meeting announcement. After straight five days, Bitcoin revived in the global markets today. On July 27, till 6.15 pm UTC, Bitcoin gained by 3.23% and was quoted at US$ 21,946.90, in intra day trading. Yesterday, Bitcoin closed at US$ 21,222. But, the asset has plunged by 3.26% in the last 5 days and has fallen by 40.98% in the past 6 months. Today’s gain has helped Bitcoin to mark a 5.90% surge in the past 1 month.

Bitcoin Jumps 3.23%,Ether UP 6.43%,US Fed Hikes Interest Rate,Nasdaq Up By 2.56%

Other crypto coins have also improved sharply today. Ether was quoted at US$ 1,536.90, gaining by 6.43%. Yesterday, Ether closed at US$ 1,444.03. Litecoin was quoted at US$ 55.86, gaining by 3.64%, Dogecoin was quoted at US$ 0.0646 gaining by 3.81%, and Cardano was quoted at US$ 0.4837 gaining by 3.83% today, till last traded.

The US Federal Reserve declares a hike in the interest rate by 75bps. Like the crypto markets, US stock markets have also improved today, expecting the policy announcement. Nasdaq stood at 11,858.93 points, gaining by 2.56%, at the time of writing. However, the hike in interest rate is anticipated to further push the US Dollar index and US Government bond yields higher, pulling the crypto and commodity markets down.