Rise in Bitcoin and Optimism in Crypto Markets#BTC

Bitcoin‘s price is at $43,123 at the time the article was prepared, showing signs of breaking away from the negativity at the start of the week. Investors were worried about further declines before the Fed meeting. However, inflation came in as expected and the Producer Price Index (PPI) data was quite positive. The relatively optimistic comments by the Fed Chairman were the icing on the cake for the rising market.

The cumulative value of cryptocurrencies has once again crossed the threshold of $1.6 trillion, and altcoins are becoming more active. The ‘king’ cryptocurrency’s daily gains of 5% could trigger faster recoveries in altcoins that have bounced back from most resistances.

Furthermore, Powell stated for the first time that significant easing should start before reaching the 2 percent inflation target. This has the potential to keep investors’ appetite for risk high until January 10. Indeed, the 2 percent increase in the spot price of Gold also occurred as a result of this.

It’s important that the daily close is above $43,000 for BTC in about 1.5 hours. Investors may be facing sleepless nights and potentially the beginning of new bull markets.