Major cryptocurrencies including Bitcoin, Ethereum, and Solana have seen significant gains, mirroring a positive response from U.S. equities following a reassuring press conference by Federal Reserve Chair Jerome Powell.
Bitcoin's Performance
Bitcoin's price has surged to $85,648, representing more than a 4% increase over the last day, peaking at $85,890âthe highest since March 9.
Ethereum and Solana Gains
Ethereum has outperformed Bitcoin with a price increase of over 7%, now trading at $2,038. Meanwhile, Solana is up by 8%, currently valued at nearly $134.
Market Overview
The broader cryptocurrency market has risen by over 3%, with a total market capitalization of $2.91 trillion.
Stocks and Economic Context
U.S. stocks also reacted positively, with the S&P 500 and Nasdaq both up by more than 1%. This follows a turbulent period earlier this month where unpredictable tariff announcements from President Donald Trump led to a cautious investor sentiment.
In summary, Powell's calming remarks on the economic outlook and the steady interest rates have contributed to this upward momentum in both crypto and stock markets.
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