Bitcoin surged to $85,775.5 after the Fed signaled a future rate cut, while XRP increased 7.3% following the SEC’s dismissal of its lawsuit against Ripple. Other cryptocurrencies, including Ethereum and Solana, also experienced gains, reflecting a renewed optimism in the crypto market driven by favorable regulatory changes and a dovish Fed stance.

On Thursday, Bitcoin experienced a significant upsurge, climbing 3% to reach $85,775.5 by 01:56 ET (05:56 GMT). This growth was driven by enhanced investor confidence following the Federal Reserve’s reaffirmation of plans to cut interest rates by 50 basis points this year. By keeping rates unchanged, the Fed acknowledged existing economic uncertainties, particularly those stemming from President Trump’s trade policies, thus positively impacting risk assets.

Meanwhile, XRP notably outperformed the market, surging 7.3% to $2.4599 after the Securities and Exchange Commission (SEC) officially dismissed its prolonged lawsuit against Ripple. This decision reflects a broader regulatory shift under President Trump, who appointed pro-crypto attorney Paul Atkins as SEC Chair. Additionally, the SEC has softened its regulatory approach towards Coinbase and Kraken.

Ethereum recorded a rise of 4.1%, reaching $2,018.12, while Cardano rose by 2.9% and Solana surged 6.4%. Polygon also increased by 2.6%, indicating a general sense of optimism across the cryptocurrency market. Furthermore, popular meme tokens benefited from the market rally, with Dogecoin increasing by 4.1% and $TRUMP rising by 3.6%.

This recent surge in the cryptocurrency market follows a period characterized by significant sell-offs, during which bargain hunters have begun re-engaging. With the Federal Reserve maintaining a dovish monetary stance and favorable regulatory changes, market sentiment has become bullish, consequently driving momentum across Bitcoin, altcoins, and meme tokens.

In summary, Bitcoin’s recent rise to $85,775.5 reflects improved investor sentiment following the Federal Reserve’s commitment to interest rate cuts amidst economic uncertainty. XRP’s remarkable performance, attributed to the SEC’s dismissal of its lawsuit against Ripple, highlights a favorable regulatory environment. This broader trend of recovery is evident in various cryptocurrencies as positive sentiment prevails in the market, suggesting a potential bullish trend for digital assets moving forward.

Original Source: www.tokenpost.com

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