Bitcoin price jumps at three-week high

• The Bitcoin Prize rose by 5.6 % and reached a three-week maximum of $ 61,100 on Tuesday morning
• Altcoins such as Celestia, Immutable X and Near recorded growth in the double -digit percentage range.
• crypto shares have increased slightly before the expected announcement of an interest rate reduction by the Fed.

The Bitcoin price has risen to the highest level in three weeks and has triggered price gains in the entire cryptocurrency sector and in relatives. It rose by 5.6 % and reached $ 61,100 at 11:55 a.m. before falling back to about $ 61,000.

The increase represents a clear turnaround after the calm week and signals a new interest in digital assets.

Altcoin and Bitcoin prices rise rapidly before interest rate reductions of the Fed

In addition to Bitcoin, other important cryptocurrencies had significant growth. Ethereum (ETH) increased by 4.2% to $ 2,380.

remarkably, some old coins have overtaken the larger tokens. Celestia (TIA) recorded an increase of 15.7 %, immutable X (IMX) an increase of 14.8 %, Near Protocol (Near) an increase of 9 %, uniswap (university) an increase of 8.9 %and SUI (SUI) an increase of 8.1 %.

The upswing takes place immediately before the highly expected interest decision by the US Federal Reserve.

market analysts generally assume that the central bank will reduce interest rates for the first time in four years. Since inflation is largely under control and the labor market shows signs of cooling, many believe that the Fed will take a more relaxed attitude.

Lower interest rates are usually positive for cryptocurrencies, since lower credit costs make traditional savings and investment forms less attractive. As a result, investors often turn to more risky systems such as cryptocurrencies in search of higher returns.

also crypto shares increase

also crypto -oriented stocks benefited from the upswing of the Bitcoin, even if their profits were generally more modest compared to digital tokens.

Microstrategy (MSTR), a company that is known to keep large Bitcoin reserves, rose by 0.6 %.

The crypto stock exchange platform Coinbase Global (Coin) rose by 3 %, while the crypto investment company Galaxy Digital (OTCPK) has increased 5.4 %.

In the crypto mining sector, Riot Platforms (Riot) rose by 2.4 %, Mara Holdings (Mara) by 1.9 % and Hive Digital Technologies (Hive) by 4.3 %. Bit Digital (BTBT) recorded the biggest jump with a plus of 13 %, followed by Hut 8 (hat) with a plus of 6.6 % and CLEPARK (CLSK) with a plus of 3.1 %.

While the broader stock market is also under the buying pressure of the US Federal Reserve in advance, the crypto sector continues to ride on the wave of optimism in view of the possibility of lower interest rates and increased investments in digital assets.