Bitcoin Dominance Hits 65% Ahead of Fed Decision

Bitcoin ($BTC) is making waves in terms of market dominance. As per the exclusive data, Bitcoin has reclaimed a 65% market dominance for the first time since 2021’s January, highlighting a bullish momentum. This development takes place before the tomorrow’s meeting of the U.S. Federal Reserve.

Bitcoin Witnesses 2.18% Price Upsurge over 24 Hours

Bitcoin ($BTC) has recorded a notable price gain of up to 2.18% over the past twenty-four hours. In the meantime, the other prominent crypto assets like Ethereum ($ETH), Sui ($SUI), Aptos ($APT), and Polygon ($POL) have dropped. This market shift denotes the rotation of capital in crypto wallets holding $BTC, indicating caution among investors in a likely volatile market. Hence, Bitcoin is getting noteworthy momentum before the upcoming FOMC meeting.

At the moment, Bitcoin ($BTC) is changing hands at $96,429.36. This price level accounts for a 2.18% increase over the past twenty-four hours. Apart from that, the 7-day price change of Bitcoin shows a 1.43% spike. In addition to this, over the past month, Bitcoin has recorded a considerable 25.13%. This massive rise displays a wider bullish outlook, raising speculation of a huge price action. As a result of this, the investor interest in Bitcoin is also growing to a significant extent. However, the continuation of this positive scenario remains to be seen in the next few days.

FOMC Meeting and New Hampshire’s Approval for Bitcoin Reserve Trigger Bullish Momentum

According to the latest statistics, several factors are backing the price upswing of Bitcoin. Specifically, the impending FOMC meeting as well as the approval of the law for Bitcoin reserve in New Hampshire are the prominent among them. Even then, whether a provisional price volatility converts into a long-term shift is not confirmed yet. In the meantime, investors are focusing on Bitcoin ($BTC) in their crypto strategy.