Global Markets Jolt Upwards After Interest Rate News

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Global markets took a steep incline following news about interest rates remaining the same.

Crypto markets also climbed with compounding news that S&P indexes were going to be tokenized. This resulted in a major climb in price towards the late afternoon before fiat markets closed.

BTC’s MFI and MACD took a strong swing upwards and could continue their strong uptrend if buy-side pressure is continued.

Almost $100 billion has been added to the cryptocurrency market since this morning’s market check in. The overall cryptocurrency market cap now stands at $2.6 trillion. BTC dominance is now down to 41.1% while ETH dominance is back up to 21.1%.

This increase in market cap dominance for ETH can clearly be seen in the difference in the climb between ETH’s and BTC’s. Ethereum’s indicators are looking similar to Bitcoin’s. Like Bitcoin, ETH also broke a line of resistance and is attempting to find higher support.

If ETH and BTC hold here, and find support, it wouldn’t be too surprising to find alt coins start to absorb some of the larger coins profits over the coming days.