Market Wrap

Bitcoin Retakes $35K After FOMC as Solana's SOL Leads Sharp Altcoin Rally

The Federal Reserve pulled no surprises on Wednesay as it kept policy on hold but promised a continued focus on bringing inflation to heel.

The crypto rally was broad, as all CoinDesk sector indexes posted 7% to 32% advances.

Bitcoin's advance this week coupled with gains across all digital asset sectors, highlighting the breadth of the crypto rally.

Dogecoin and PEPE gained 5%-6% on Thursday, fading the action in a mostly lower cryptocurrency market.

BTC could run towards $40,000-$45,000 after consolidating around current prices, Capriole Investments said.

Traders have gotten very optimistic that a bitcoin ETF will get approved in the U.S.

The New York Attorney General filed early Thursday a lawsuit against Genesis, Gemini and DCG for allegedly defrauding investors of $1 billion.

Also, there's a growing consensus that SEC approval of a spot bitcoin ETF is surely in the cards.

By Stephen AlpherOct 18, 2023

Bitcoin's market share of all cryptocurrencies rises to highest since April 2021.

Meanwhile, the market continues to trend downwards amid higher-than-expected U.S. PPI, and CPI Data.

By Sam ReynoldsOct 16, 2023

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