Bitcoin Breaks $77,000 Amid Rate Hike Aftermath, Second Day of Rally

As of 1:30 p.m. KST on April 18, according to Coin360, Bitcoin (BTC) was trading at $77,287, up 1.39% from the previous day, with a market share of 58.22%. Ethereum (ETH) rose 1.9% to $2,474, while Ripple (XRP) climbed 1.95% to $1.

Altcoin strength continued for a second consecutive day. Onchain platform NEAR surged 40% from its weekly low to $3, continuing its rebound. Privacy coin ZEC jumped 10.35% to $1,499, while HYPE (+9.06%), LINK (+5.96%), SOL (+5.85%), BNB (+3.64%), and XMR (+2.64%) also rose in tandem.

Two days after the Fed's surprise rate hike led by Chair Kevin Warsh at the FOMC, markets interpreted it as a one-time move, fueling an easing of risk-off sentiment and a two-day rally for Bitcoin and major cryptocurrencies. Individual catalysts further boosted gains: NEAR reflected expectations around its upcoming protocol upgrade, while ZEC continued double-digit gains following the April 25 listing of Grayscale's spot ETF 'ZCSH,' which has seen steady institutional inflows.

However, market participants remain cautious about potential volatility next week amid pending clarity on legislative proposals and further Fed commentary.