Bitcoin and ether rally hinges on US economic policy’s ability to restrain dollar strength, analysts say | Headlines | News | CoinMarketCap

05/02/2024 23:32
Bitcoin and ether rally hinges on US economic policy’s ability to restrain dollar strength, analysts say | Headlines | News | CoinMarketCap

Bitcoin and ether have both rallied back above the $59,000 and $3,000 marks, respectively, according to The Block's Prices Page. The largest digital …

Bitcoin and ether have both rallied back above the $59,000 and $3,000 marks, respectively, according to The Block's Prices Page.

The largest digital asset by market cap increased by over 4.3% in the past 24 hours, now changing hands for $59,233 at 12:03 p.m. ET, according to The Block's Price Page.  The price of ether has increased by 4% to $2,994 in the same period. The global cryptocurrency market cap today is $2.34 trillion, a 3.7% increase in the last 24 hours, according to Coingecko data.

Policy decisions that could boost risk-on sentiment

According to QCP Capital analysts, two U.S. economic policy decisions could nurture risk-on sentiment in the market, benefiting assets such as bitcoin and ether. One decision cited in Thursday's QCP Capital report was Federal Reserve …

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