Bitcoin rose as much as 2.9 percent in Asia on Thursday, hitting $23,000, after it surged nearly 8.65 percent the day before, in response to the Federal Reserve’s decision to hike interest rates by 75 basis points (BPS) for the second time in a month.
On Wednesday, the Bitcoin currency increased nearly 9 percent to $22,792.02.
Ethereum, Polkadot, and Polygon rallied between 15-17 percent each. Cardano, Solana, and together with Bitcoin also posted double-digit rises.
The global cryptocurrency market cap was at the $1.06 trillion mark. The total trading volume, meanwhile, jumped more than 40 percent, close to $88.43 billion.
In an effort to contain inflation, the Federal Reserve raised the benchmark interest rate by 75 basis points for the second time in a month. Still, while the labor market remained strong, the Fed said that other economic indicators had weakened.