Bitcoin (BTC) Rallies Above $62,000 Mark After US Federal Rate Cut, Other Altcoins Land in the Greens

Bitcoin (BTC), the world's oldest and most valued cryptocurrency, rose above the $62,000 mark early Thursday following the 50 basis point US federal rate

Bitcoin (BTC) rose above the $62,000 mark early Thursday morning as the US federal rate cut of 50 basis points seemed to rally investors’ confidence. Other popular altcoins also landed in the greens across the board as the overall Market Fear & Greed Index stood at 40 (Neutral) out of 100, as per CoinMarketCap data.

The global crypto market cap stood at $2.14 trillion at the time of writing, registering a 24-hour jump of 2.63 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $62,145, registering a 24-hour jump of 2.46 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 49.04 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,411.01, marking a 24-hour gain of 3.14 percent at the time of writing. Ethereum price in India stood at Rs 1.98 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 2.86 percent, as per CoinMarketCap data, currently priced at $0.1042. Dogecoin price in India stood at Rs 8.52.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour gain of 1.39 percent. At the time of writing, it was trading at $65.15. LTC price in India stood at Rs 5,233.90.

Ripple (XRP) Price Today

XRP price stood at $0.588, seeing a 24-hour jump of 1.08 percent. Ripple price in India stood at Rs 47.96.

Solana (SOL) Price Today

Solana price stood at $138.55, marking a 24-hour gain of 4.91 percent. SOL price in India stood at Rs 11,239.17.

Top Crypto Gainers Today (September 19)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Sei (SEI)

Price: $0.340924-hour gain: 21.61 percent

Popcat (SOL) (POPCAT)

Price: $0.859324-hour gain: 19.59 percent

Celestia (TIA)

Price: $6.1124-hour gain: 15.27 percent

Sui (SUI)

Price: $1.39 24-hour gain: 14.90 percent

Fantom (FTM)

Price: $0.65124-hour gain: 12.63 percent

Top Crypto Losers Today (September 19)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Nervos Network (CKB)

Price: $0.0176424-hour loss: 9.92 percent

KuCoin Token (KCS)

Price: $7.4624-hour loss: 3.42 percent

Monero (XMR)

Price: $171.7024-hour loss: 1.17 percent

Tether Gold (XAUt)

Price: $2,566.1224-hour loss: 0.37 percent

Flare (FLR)

Price: $0.0147924-hour loss: 0.33 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “The highly anticipated 50 basis point Federal rate cut has sparked a strong rally in the crypto market, with further rate cuts expected by the end of 2024. Bitcoin surged over 3%, trading around $62,000 after a brief dip from profit-taking. If sustained at these levels, BTC could attempt a rally towards $63,000 soon with key support closer to the $60,100 mark. Other coins such as Ethereum, BNB and Solana also went up as much as 4% with strong momentum and positive economic outlook by the Feds.”

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