Bitcoin (BTC) Reclaims the $84K Mark After Fed Chair Jerome Powell Delivers a Speech on the U.S. Economy

The recent speech from the Fed Chairman Jerome Powell on the U.S. economy has resulted in a steady reaction from the crypto market.

The recent speech from the Fed Chair Jerome Powell on the U.S. economy has resulted in a steady reaction from the crypto market. As per the data from CryptoRank.io, in reaction to Jerome Powell’s speech, the top cryptocurrency Bitcoin ($BTC) has reclaimed the $84K mark. The event has also impacted the other notable crypto assets like Ethereum ($ETH),Solana ($SOL), and a few others.

Bitcoin, Ethereum, and Solana Record Steady Gains Following Fed Chair’s Latest Speech

The market statistics point out a 1.24% upsurge in Bitcoin's price, leading it to regain the $84,415 spot. On the other hand, the market dominance of Bitcoin has slumped by 0.06% and now stands at 60.08%.

Likewise, Ethereum is currently changing hands at $1,602 with a 2.02% increase. Simultaneously, Ethereum's market dominance accounts for approximately 6.93% following a 0.66% jump. A key price rise has been witnessed by Solana, which has surged to $134, signifying a considerable 7% increase.

Along with that, several small as well as large-cap crypto assets have recorded noteworthy increases. Particularly, $AIDOGE is leading the small-cap gainers with a 62.9% surge at $0.0000000003. Additionally, an 8.42% surge in the price of $HYPE has placed it among the large-cap gainers, with its price reaching $16.07. Concurrently, in the case of Binance, $STRAX has emerged as the top gainer with a 68% price spike. On the other hand, the recently released $WCT token has dipped by 37%.

Cryptocurrency Market Cap Hits $2.79T after 1.29% Rise

In general, the U.S. Fed Chairman’s latest speech has reportedly triggered a steady reaction in the crypto market. Although the Fear & Greed Index is still showing some slight "fear" at 30, the wider positive momentum in the market highlights the possibility of further upswings. In this respect, the total market capitalization has touched $2.79T, underscoring a 1.29% increase over the recent 24 hours.