The cryptocurrency market rallied strongly on Wednesday after former US President Donald Trump clarified he has “no intention to fire Fed Chair Jerome Powell.” The remark eased investor concerns over potential monetary policy disruptions, triggering broad-based gains across digital assets.
Bitcoin (BTC) surged 5.52% to $92,759.72, reclaiming momentum after recent volatility. Ethereum (ETH) posted an even stronger move, rising 13.41% to $1,783.25. Altcoins also joined the rally, with Solana (SOL) up 6.75%, XRP gaining 6.52%, and Dogecoin (DOGE) jumping 13.10%.
Among top gainers, HYPER soared an astonishing 258.78%, followed by TURBO (+48.54%), FIS (+38.39%), and PENGU (+37.73%). Other notable risers included LPT, IMX, BIO, and VIRTUAL, all registering gains above 28%.
On the downside, MAGIC led the losers with a drop of 13.88%, followed by ARDR (-12.21%), and PIXEL (-10.42%). However, the red was limited, as bullish sentiment largely dominated the crypto space.
The market surge comes amid optimism that the US Federal Reserve may remain steady or even shift toward a rate-cutting stance later this year, a move seen as supportive for risk assets, including cryptocurrencies.
Disclaimer: The above content is for informational purposes only and does not constitute investment advice. Always consult a certified financial advisor before making investment decisions.
