Cryptocurrency markets experienced a moderate uptick on April 1, fueled by optimism surrounding U.S. inflation data. Federal Reserve Chair Jerome Powell’s remarks hinted at the possibility of interest rate cuts in June.

Introduction

Bitcoin, the pioneer cryptocurrency, maintained stability around the $70,000 threshold, while Ethereum hovered just above $3,600. Other altcoins also made notable moves.

1. Bitcoin’s Steady Course

Bitcoin traded 0.1% higher at $70,293, showing resilience despite recent fluctuations. Investors eagerly await a potential breakout, but a significant resistance level persists at $72,500.

Cryptocurrency market

2. Ethereum’s Surge

Ethereum surged past the $3,600 mark, demonstrating strength in the altcoin market. Its performance remains closely watched by traders and enthusiasts alike.

3. Altcoin Rally

Several altcoins posted gains:

  • Solana (SOL) rose by 1.7%
  • XRP increased by 1.8%
  • Dogecoin (DOGE) climbed by 4.7%
  • Toncoin (TON) saw a 3.2% surge
  • Bitcoin Cash (BCH) recorded an impressive 15.8% gain.

Market Cap and Dominance

The global cryptocurrency market cap reached approximately $2.67 trillion in the last 24 hours. Bitcoin’s dominance stands at 51.85%.

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