Crypto Market Defies Interest Rate Hike with 1.2% Growth

The crypto market remains resilient in the face of rising interest rates, defying expectations and growing by 1.2% over the past 24 hours.

Despite a brief spike in volatility following the Fed's key rate hike, traders have shifted their focus to buying on dips, indicating a bullish sentiment shift.

The top performers include NEAR Protocol (+18%), Zcash (+17.5%), and Dash (+15%), while underperformers were Filecoin (-1%), Hedera (-0.1%), and Tron (+0.1%).

The cryptocurrency sentiment index has fallen to 50 from 51 the previous day, but this is not considered a cause for alarm as it has been above 50 for nearly four weeks.