Crypto Price Today: Bitcoin reaches $35,500; Ethereum falls to $1,900; other cryptocurrencies rise to 11%

While Ethereum saw a 3% increase but stayed below the $1,900 mark, Bitcoin remained stable as it climbed more than 3% and raced above the 35,500 levels.

Following the Fed’s dovish comments, Bitcoin and other cryptocurrency tokens maintained their bullish momentum on Thursday, hitting a 17-month high for the oldest asset. Following the one-year anniversary of Sam Bankman-Fried’s cryptocurrency empire, FTX exchange, cryptocurrency tokens saw significant gains.

Bitcoin was stable despite the biggest cryptocurrency rising over 3% and breaking above the 35,500 levels with great force. Ethereum, its biggest rival, saw a 3% increase but continued to trade below the $1,900 mark. The majority of altcoins were seeing substantial rises in trade.

After the Federal Open Market Committee (FOMC) of the US Federal Reserve affirmed the expected interest rates, the price of bitcoin increased and began trading above the $35,500 mark. The market is now more optimistic as a result of this announcement, and Bitcoin’s price has been rising steadily over the last day.

Most of the leading cryptocurrency tokens were trading much higher on Thursday, with the exception of the USD Coin, which is based on the US dollar. Polygon saw an increase of 8%, while Solana had a jump of over 11%. In the early trade, Cardano and Polkadot surged 7% while Tron and Chainlink gained almost 4% apiece.

The value of the world’s cryptocurrency market was trading much higher, having increased by more than 3% on the previous day to reach the $1.32 trillion mark. Nonetheless, the total amount traded increased by around 43% to $57.45 billion.

The Federal Reserve’s decision to leave interest rates steady was well received by the cryptocurrency market, which increased the total value of the global crypto market to around $1.35 trillion.

Even if investor mood was positive, SafeMoon (SFM), which has dropped more than 50% in the last day, was one of the biggest losers. However, the fall coincides with the arrest of the company’s CTO and CEO for fraud. Currently, the defendants are being charged with crimes.