The cryptocurrency market began the day with significant upward movement. Bitcoin’s impressive surge set a positive tone, reflected by various altcoins.
The upcoming Federal Open Market Committee meeting has fueled investor confidence, resulting in a 1.54% market cap increase to $2.08 trillion. Trading volumes grew by 26.34% to $76.86 billion, showcasing heightened market activity.
Bitcoin surged past the $61,000 mark, buoyed by the anticipated FOMC meeting, increased ETF inflows, and positive stock market dynamics. Currently, Bitcoin trades at $60,197, up by 2.46% over the last 24 hours. Its trading volume notably rose by 38.66% to $39.14 billion.
Significant ETF inflows are driving this momentum, with a recorded net daily inflow of $186.76 million on September 17, according to Soso Value data.
Ethereum showed modest growth, with its value increasing by 0.38% to $2,319. The price fluctuation ranged between $2,303.53 and $2,389.29 in the past day.
Despite growth, Ethereum experienced ETF outflows amounting to $15.11 million, as reported on September 17.
Ethereum continues to hold its position as the second-largest cryptocurrency by market cap.
Solana experienced a slight decrease of 1.27%, with prices ranging from $130.44 to $135.48.
Conversely, XRP dropped by 1.52% to $0.5766, within a daily range of $0.5761 and $0.5943. Its market cap is currently $32.5 billion.
Captain Faibik anticipates a potential XRP rise to $2.4 due to a longstanding symmetrical triangle pattern since 2018.
Binance Coin saw an upward movement, gaining 0.77% to trade at $543.08, within a range of $538.18 to $552.86.
TRX, however, marked a minor dip of 0.08%, trading at $0.1499. Its daily lows and highs were $0.1495 and $0.1515.
Fantom showed a 0.62% rise to $0.5668, with daily low and high values of $0.5503 and $0.5835. However, its trading volume declined by 5% to $52.7 million.
Fantom is set for a major upgrade to the Sonic network, which involves replacing the existing FTM token with the new Sonic Token (S), promising developments ahead.
The upgrade is anticipated to bolster the ecosystem significantly.
Dogecoin experienced a 0.14% increase to $0.1008, driven by renewed network activity.
Shiba Inu, in contrast, decreased by 0.72% to $0.00001321.
The meme coin market displayed mixed trading signals on this day.
NEIRO surged an incredible 106.62% to $0.00083009.
Dymension (DYM) increased by 20.99%, reaching $1.631, while Baby Doge Coin rose 16.89% to $0.00223.
Omni (OMNI) and Reserve Rights (RSR) also saw substantial gains of 16% and 12.50%, respectively.
The crypto market displayed mixed patterns with Bitcoin leading the surge amidst growing investor enthusiasm.
Although certain altcoins showed negative trends, promising upgrades, and trending coins offered a balanced outlook.
