Bitcoin and Ethereum faced a tumultuous week with both gains and losses, but the market is ending the week on a positive note. Bitcoin’s price rose by 3% over the past seven days, reaching $43,139.
Initially, there was anticipation surrounding the Federal Reserve‘s announcement on interest rates, but Bitcoin remained relatively stable while other cryptocurrencies experienced a dip. However, after a more hawkish press conference by Federal Reserve Chair Jerome Powell, Bitcoin’s price dropped briefly, reaching a low of below $42,000.
The price of Ethereum also faced losses earlier in the week but recovered slightly, ending the week with a modest 2% increase, trading at $2,306. On the other hand, Solana (SOL) experienced significant gains, with its price surging by over 10% in the past week, reaching $97.86.
This increase in price can be attributed to heightened trader activity following the launch of the JUP token airdrop by the Solana decentralized exchange aggregator, Jupiter. The overall market cap of the cryptocurrency industry currently stands at $1.74 trillion, showing a 2% increase in the past day.
Source: Decrypt
