#BTCBreaks99K Bitcoin broke above $ 99,000; Will it hit $ 100,000 today?

- Bitcoin broke above $ 99k and is approaching the psychological level of $ 100k.

- BTC recovered $ 99k after the Federal Reserve decided on Wednesday to keep its benchmark interest rate steady.

- The market capitalization of digital assets also reached a record of $ 890 billion.

On-chain data showed that Bitcoin broke above the level of $ 99,000 on Wednesday night and is nearing the mark of $ 100k. At the time of publication, the digital asset was trading at $ 99,330, an increase of 2.83% in the last 24 hours.

Despite the recent decline of the virtual asset, which was more than 10% from its January peak, many investors observed the long-term value of the cryptocurrency as it moves toward the level of $ 100k. Glassnode Analytics also noted that addresses holding between 10 and 10,000 BTC added more than 81,300 BTC in the last six weeks, indicating renewed confidence from institutional investors and high-level network participants.

Bitcoin has moved above the mark of $ 99,000 and is almost breaking above the psychological level of $ 100k. BTC is currently trading at $ 99,330, with approximately $ 47 billion in trading volume over the last 24 hours, nearly a 50% increase in the last 24 hours.

Altcoins are also rallying in the wake of BTC, with Ethereum rising 4.26% to $ 1,904, while Solana increased 3.7% to reach $ 151.61. With BTC nearing $ 100k, analysts argue that the breakout point could lead to a wave of FOMO among retail and institutional investors.