Crypto Market Shrugs Off Interest Rate Hikes with 1.2% Rally

The crypto market showed resilience in the face of interest rate hikes, rising by 1.2% over the past 24 hours.

Despite a brief spike in volatility after the Federal Reserve's key rate decision, traders focused on buying dips and snapping up undervalued assets.

Certain altcoins continued to grow, with some experiencing rapid rises driven by specific ideas, a sign of a fundamental shift in sentiment.

The top performers over the past 24 hours were BTC (+18%), ETH (+17.5%), and XRP (+15%), while underperformers included USDT (-1%), DAI (-0.1%), and USDC (+0.1%).

The cryptocurrency sentiment index, however, dropped to 50 from 51 the previous day, a slight decline that doesn't warrant alarm given its prolonged stay above 50.