futurewithcrypto.com
The minutes from the Federal Reserve's meeting in November were released, and bitcoin experienced a tiny increase as a result.
Image credit- google images
This raised speculation that future interest rate increases by the Fed would be more gradual.
Image credit- google images
As the businessmen digested the news, the stock market also gained momentum.
Image credit- google images
According to CoinGecko, the largest cryptocurrency by market cap was trading at $16,498 at the time of writing – a 2.6% increase in 24 hours.
Image credit- google images
Ethereum also soared in value: the second-largest digital asset was up 3.3% over the past day, trading at $1,169.
Image credit- google images
The rest of the market also jumped, including the ninth-largest cryptocurrency and Elon Musk's favorite Dogecoin, which was up 4.8% in 24 hours, trading for $0.08.
Image credit- google images
Typically, bitcoin — and the broader crypto market — has followed US equities this year. This is because digital assets are considered risky assets by traders.
Image credit- google images
According to Ryan Scott, a trader, the increase was anticipated. "From the appearance, this is consistent with market expectations.
Image credit- google images
The release of both cryptocurrency and equities index futures has led to aggressive positioning among short-term traders, he claimed.
Image credit- google images
Despite rising in value this year, the dollar dropped against the yen and the euro after the release of today's minutes.
Image credit- google images