Bitcoin climbed back above $81,000 as markets awaited the Federal Reserve's FOMC meeting. Altcoins turned green too, and the total crypto market cap rose above $2.710 trillion.
Bitcoin soared by around $2,000 over the past day as traders prepared for the second-to-last US Federal Reserve FOMC meeting of the year, due later today. The asset remains at around $81,500 as of press time.
Bitcoin recovers after a week of losses
A week ago, bitcoin hit a 14-day peak of $85,000 before a sharp rejection. It then tumbled by over two grand, and by Friday it was close to breaking below $80,000.
The bears broke that level on Saturday, when bitcoin fell to a 5-week low of $79,100. A rebound on Sunday stalled at $81,000, and the price dipped below $80,000 on a couple more occasions.
However, bitcoin shot up to over $80,000 earlier today, then made another leg up to $81,650. Its market cap has risen to $1.630 trillion, and its dominance over the alts has reclaimed the 60% line on CMC. More volatility is expected after the FOMC meeting concludes and Kevin Warsh speaks.
Altcoins flash green
Ethereum is up by 3% in the past day and sits close to $2,400. XRP's 3% pump has pushed it further above the $1.30 support, and BNB is above $750.
SOL has rebounded from its sub-$100 dip. HYPE, DOGE, XMR, and LINK have posted gains of up to 5%.
Among the top 15-20 alts, ZEC, NEAR, and BCH are the biggest gainers. BTW soared by almost 30%, followed by PEPE's 16% rise and M's 12% jump.
The cumulative market cap of all crypto assets regained over $40 billion in a day and now sits above $2.710 trillion on CMC.
Source: CryptoPotato
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