FOMC and MicroStrategy push Bitcoin above $35,000, but altcoins could benefit the most

Michael Saylor announced that MicroStrategy acquired another 155 Bitcoins worth $5.3 million in October. Bitcoin price crossed the $35,000 threshold, a level that had been untouched since May 2022. Cryptocurrencies, excluding BTC and Ethereum, are noting a potential breakout from an 18-month-long downtrend. However, apart from BTC breaching a barrier, it is the altcoins’ rise that is more significant at the moment.

-day chart However, such breakouts have been noted to fail in the past, which calls for investors to be diligent before jumping in to make profits. Read more - SOL open interest rises nearly $50 million in three days as Solana price revisits pre-FTX collapse highs

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