Bitcoin Nears $94K as Crypto Market Heats Up
Bitcoin climbs to $93.5K, Ethereum breaks $3K as Fed's QE policy fuels a major crypto market rally.
- Bitcoin approaches $94K after Fed QE announcement
- Ethereum and altcoins post strong double-digit gains
- Liquidations hit $474M as market volatility spikes
The Federal Reserve’s decision to return to Quantitative Easing (QE) has reignited a strong bullish trend in the cryptocurrency market. Bitcoin ($BTC) surged by 7.5%, nearly reaching $94,000, while Ethereum ($ETH) crossed the $3,000 level with a 9.3% gain.
Investors are pouring back into risk assets, and crypto markets are once again showing their sensitivity to macroeconomic policy. The total crypto market capitalization has climbed to $3.34 trillion, reflecting growing market optimism.
Altcoins Surge Alongside Bitcoin and Ethereum
The positive sentiment wasn’t limited to major coins. Altcoins experienced major gains, with the following standing out:
- SUI: +29%
- PENGU: +26%
- VIRTUAL: +18%
- LINK & PUMP: +17%
The small-cap segment saw even more impressive rallies:
- GAIX: +85%
- 恶俗企鹅: +83%
- BOB: +75%
- EDEL: +70%
- A8: +68%
Despite these gains, the Fear and Greed Index remains low at 28, showing fear still dominates sentiment. The Altcoin Season Index at 21/100 suggests this could be the start of a broader altcoin breakout.
$474M Liquidated Amid Sharp Price Moves
Over $474 million in liquidations occurred in the last 24 hours, largely due to traders getting caught off-guard by the rapid price movement. Most of the liquidations were short positions, signaling strong upward pressure in the market.
With QE back in play and liquidity conditions easing, many analysts believe this could be the beginning of a new bullish phase for the crypto space.
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