Bitcoin rebounds strongly this week, trades near $84,000 after climbing above $86,000. Here is what expert

Bitcoin rebounded strongly this week and was trading near the $84,000 mark after climbing above the $86,000 mark. The cryptocurrency was trading near the $84,048 mark.

In the past 24 hours, Bitcoin was down 0.3% and Ethereum was up 0.2% to trade near $2,688. Among the major altcoins, XRP, Solana, Dogecoin, and Cardano gained upto 3.3% whereas BNB, Tron, and Hyperliquid corrected less than 1%.

The global

went up marginally 0.3% to $2.97 trillion, according to Coingecko.

Nischal Shetty, Founder, WazirX said Ethereum followed a similar trajectory, ending the period close to $2,700. The initial rally followed the US Federal Reserve’s September policy decision. With the outcome largely priced in, the conclusion of the FOMC meeting reduced near-term uncertainty and encouraged investors to rebuild exposure to risk assets.

Overall, the market structure has improved, but sentiment is already in the Greed zone, Shetty further said.

Over the past week, Bitcoin and Ethereum were up 3.6% and 2.2% respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, and Cardano gained upto 13.3% whereas Tron and Hyperliquid corrected 0.2% and 0.3% respectively.