Business Standard

Monday, December 23, 2024 | 09:38 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Crypto wrap: Markets rally on expectation of softer stance from US Fed

Bitcoin crossed the $ 20,000 mark, and Ethereum was above the $ 1,500 mark for the first time since it concluded "Merge" in September

An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. (AP Photo/Kin Cheung, File)
Premium

AP Photo/Kin Cheung, File

Raghav Aggarwal New Delhi
The cryptocurrency market in the past week showed signs of a slight recovery. On early Friday, the total crypto market capitalisation (m-cap) hit the $1 trillion mark. Bitcoin, the largest cryptocurrency by m-cap, crossed the $ 20,000 mark, and Ethereum was above the $ 1,500 mark for the first time since it concluded "Merge" in September, market data showed.

Experts told Business Standard that the current rise in the crypto prices was due to the expectations that the Federal Reserve (Fed) might soften its stance in fighting inflation due to the rising fears of recession.

"The crypto market cap reclaimed

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in