Bitcoin rose over $43,000 and other cryptocurrencies, including Ethereum, were trading in green. The global crypto market was in a stable mode. Bitcoin was trading 5.19 per cent at $43,025 after the US central bank Chair made a strict monetary policy statement. The second-largest cryptocurrency by market capitalization after bitcoin, Ethereum was trading at $3,026.
Recent cryptocurrency downturns have wiped out huge amounts of wealth. Cryptocurrencies have had a rough start to the year. As of Jan. 26, Bitcoin (BTC) had lost about 20% in value year to date, and Ethereum (ETH) and Binance Coin (BNB) dropped about 30% and 25%, respectively, in that period, despite a late surge higher.