Bitcoin Price and Ethereum Prediction: Will BTC & ETH Sustain Their Gains After the FOMC Meeting Minutes Reveal?
Bitcoin (BTC), the largest cryptocurrency, reversed its modest losses from the previous day and regained traction above the $30,000 level once more. Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, broke through the $1,900 barrier and outperformed Bitcoin.
In addition, other cryptocurrencies, such as Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL), exhibited strong performance as well.
Nonetheless, the driving force behind the ongoing bullish rally can be attributed to positive inflation data and the Ethereum Shanghai upgrade, both of which are contributing to the sustained growth of the crypto market. The global cryptocurrency market has been demonstrating exceptional performance.
At the time of writing, the global crypto market capitalization stood at $1.23 trillion, marking a 1.20% increase over the past 24 hours.
As previously mentioned, Bitcoin is currently trading above $30,000, while Ethereum has risen by 2% to $1,908.20. Ethereum has outpaced Bitcoin, owing to a new update that enhances staking flexibility.
Consequently, this development is expected to boost market liquidity and bolster the security of the blockchain, ultimately contributing to an increase in Ethereum's value in the future.
The global crypto market has been flashing green and rose moderately on Thursday, thanks to the release of lower-than-expected US inflation statistics, which fueled speculation that the Federal Reserve will likely finish its rate-tightening cycle sooner than expected, affecting the value of cryptocurrencies like Bitcoin.
According to statistics released on Wednesday, U.S. consumer prices increased by 0.1% in March. This resulted in an annual increase of 5.0%, the weakest 12-month growth since May 2021.
The core CPI,
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