Bitcoin rose 1.71% to $77,713 on Friday as falling oil prices eased inflation concerns after the Fed's rate hike. Ethereum gained 1.90% to $2,488, while total crypto market capitalization reached $2.75 trillion.
Why it matters
The move lifted broader markets and pushed the Fear & Greed Index to 56, or Greed. Bitcoin dominance stood at 56.7%, showing that the market's strength remained concentrated in the largest asset rather than spread evenly across altcoins.
Market impact
Altcoin breadth was weaker, with the Altcoin Index at 47/100. In DeFi, Aave V4's Arc market held $76 million in USDC without borrowers, highlighting the gap between available lending liquidity and current demand.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAJQbGqs8QABupLkLqqYSoIctuR9T-3QpgACYx9rG2UVaUkYZRmn2eW8nwEAAwIAA3kAAz0E)
Frequently asked questions
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What pushed Bitcoin above $77,700?
Falling oil prices eased inflation concerns after the Fed's rate hike, lifting broader markets and helping Bitcoin rise above $77,700.
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How did Ethereum perform in the market move?
Ethereum gained 1.90% to $2,488 as the broader crypto market advanced.
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What was Bitcoin's market dominance?
Bitcoin dominance stood at 56.7%, indicating that market strength remained concentrated in Bitcoin.
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What does the Altcoin Index indicate?
The Altcoin Index was 47/100, pointing to weaker breadth outside the largest crypto assets.
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What happened to borrowing demand in Aave V4's Arc market?
Aave V4's Arc market held $76 million in USDC without borrowers, highlighting limited utilization of available DeFi lending liquidity.
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Crypto News
Lookonchain
Benjamin Cowen
CoinTelegraph