- Bitcoin saw strong gains after the Fed decided to keep interest rates unchanged.
- XRP’s victory over the SEC improved investor confidence and boosted market sentiment.
- Altcoins like XDC, UNI, and CAKE gained momentum alongside Bitcoin’s market rally.
Crypto markets saw strong gains today, following key announcements that sent positive ripples through the industry. Bitcoin surged nearly 8% after the U.S. Federal Reserve decided to keep interest rates unchanged at 4.5%. Ripple (XRP) also soared by 7.49% after the SEC dropped its appeal in the lawsuit, signaling a major victory for the market. Altcoins followed suit, benefitting from the growing market optimism.
XRP led the pack, reaching $2.49, continuing its bullish trend. The win over the SEC helped restore investor confidence, with many seeing it as a turning point for Ripple. The legal victory not only improved sentiment for XRP but also highlighted the potential for clearer regulatory frameworks in the crypto industry. This move from the SEC is being seen as a boost for the entire market.
Altcoins Follow Bitcoin’s Surge
As of press time, BTC is trading at $85,254, spiked as high as $87,429 following the Fed’s decision. According to CoinMarketCap data, other tokens also posted impressive gains. As of press time, XDC Network (XDC) rose by 5.20% to $0.07041, while BONK increased by 5.50%, trading at $0.00001138. Uniswap (UNI) saw a 4.72% rise, reaching $6.75, and PancakeSwap (CAKE) grew by 4.56%, hitting $2.43. These altcoins gained traction as Bitcoin’s surge created a ripple effect across the market. Investors were eager to capitalize on the rising tide of optimism.
Source: CoinMarketCap
With strong institutional support, Bitcoin ETFs saw notable inflows. As of March 19, the collective daily Influx has reached $11.8 million, which indicates that people still have faith in Bitcoin. This backing strengthens Bitcoin’s position as one of the most popular growing digital assets in the market.
Source: SoSo Value
Pakistan’s Crypto Legalization
Another factor making the mood bullish is Pakistan’s shifting to crypto to boost investments. The country imposed a policy to legalize cryptocurrency trading and markets and this is expected to open the door for international investments, giving more transparency to digital asset operations. It presents a change in attitude from the government activity, which may indicate further development of the crypto industry.
Related: XRP Jumps 13% After The End of Ripple-SEC Lawsuit
The market further confirms an optimistic trend in the market today, with Bitcoin being the main advocator. The recent legal success of XRP and the decision made by the Fed have spiked the price, while altcoins also respond positively to the trend. The prospects remain high for crypto as institutions continue to get behind and policy changes ensue robust growth in the future.
