Market overview

The crypto market has risen by 1.2% over the past 24 hours. The Fed’s key rate hike did not trigger a significant reaction, despite a brief spike in volatility; traders subsequently focused on buying on dips. At the same time, it is worth noting the continued growth of certain altcoins. The rapid rise driven by specific ideas is an important sign of a fundamental shift in sentiment. The top performers over the past 24 hours were NEAR Protocol (+18%), Zcash (+17.5%) and Dash (+15%). The underperformers were Filecoin (-1%), Hedera (-0.1%) and Tron (+0.1%), which clearly illustrates the market’s bullish shift over the last day.

The cryptocurrency sentiment index, by contrast, points to caution, having fallen to 50 from 51…