Bitcoin Today: 09/20/2024: BTC approaches $64,000 and Solana jumps 8.2%

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Bitcoin Today: 09/20/2024: BTC approaches $64,000 and Solana jumps 8.2%
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Bitcoin’s price hit a new high this week, briefly surpassing the $64,000 mark on Friday morning (20). At the time of writing, BTC had fallen slightly to $63,500, but was still up 1.5% daily, according to data from CoinGecko. In real terms, each BTC is costing R$344,361.

BTC’s rise comes after the United States Federal Reserve’s (Fed) decision to cut interest rates by 0.5%. The measure, announced last Wednesday (18), boosted not only Bitcoin, but also several altcoins, including Ethereum (ETH), Solana (SOL) and Binance Coin (BNB), which reached their own peaks in recent weeks.

Ether, for example, has seen a daily appreciation of 4.7% and is now trading at $2,542. BNB has jumped almost 2% in the last 24 hours to $568, and the memecoin DOGE has appreciated 1.5% to $0.106. But the standout among the 10 largest cryptocurrencies on the market is Solana, which has soared more than 8% to $150.26. Meanwhile, XRP and Toncoin are trading lower, with declines of 0.1% and 1.5%, respectively.

Considering the 100 largest cryptocurrencies by market cap, the biggest gainers of the day so far are: SUI (+15%), Bittensor (+10.5%) and Aptos (+10.3%). On the other hand, the biggest “losers” are: Nervos Network (-7.2%), Celestia (-6.2%) and Beam (-2.8%).

Bitcoin’s Bullish Trajectory

With this, the global market value of cryptocurrencies is now at US$2.30 trillion, with a daily appreciation of 1.5%. Bitcoin’s dominance is at 54.4% and Ethereum’s is at 13.3%.

The week began with a slight pullback in Bitcoin’s price, which fell from over $60,000 to under $58,000 in a matter of hours on Monday. However, bulls quickly regained control of the market and pushed the asset above $61,000.

Following the announcement of the interest rate cut, Bitcoin experienced a series of fluctuations, but the bullish sentiment prevailed. Yesterday, the cryptocurrency had already reached $63,000 for the first time in three weeks. Today, it surpassed $64,000, reaching its highest value since late August.

According to data from CoinGlass, there has been a nearly $5 billion jump in bets on Bitcoin since Tuesday. This is a sign of new money quickly entering the market in anticipation of volatility ahead.

Bitcoin Today: 09/20/2024: BTC approaches $64,000 and Solana jumps 8.2%

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Bitcoin Today: 09/20/2024: BTC approaches $64,000 and Solana jumps 8.2%

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Bitcoin Today: 09/20/2024: BTC approaches $64,000 and Solana jumps 8.2%

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