Market Rebounds for Bitcoin and Other Cryptocurrencies Following Federal Reserve's Interest Rate Verdict

Bitcoin experienced considerable volatility after the conclusion of the recent FOMC meeting, but it has since regained its losses. The same recovery trend is seen in most altcoins, with Ethereum nearing $3,900 and ENA seeing another double-digit surge.

Despite a significant dip to below $116,000, likely due to the absence of any strategic bitcoin reserve in the White House’s latest digital asset report, Bitcoin rallied and is on the brink of $119,000. Its market cap has increased to $2.360 trillion, accounting for 59.4% dominance over altcoins. The overall crypto market cap has risen by $30 billion overnight, reaching $3.970 trillion. This rebound came in the wake of the US Federal Reserve's decision to maintain the current interest rates.