Markets are finishing the week strong after a rocky week of gains and losses. According to CoinGecko, the price of Bitcoin is now $43,139. That's a seven-day growth of 3%.
All eyes were on the market's biggest digital asset and what the Federal Reserve would do to interest rates on Wednesday.
Traders had already priced in that interest rates – and they did – and Bitcoin (BTC) traded little while other coins and tokens dipped.
But the value of the property has decreased a little more. In a press conference, Federal Reserve Chairman Jerome Powell made it clear that the central bank is not in a hurry to lower interest rates. Stocks also took a beating.
At one point, the lowest BTC traded was below $42,000 per coin.
Strong economic data followed yesterday, with the US Bureau of Labor Statistics reporting that the US added 353,000 new jobs in January and the unemployment rate remained at 3.7% for the third consecutive month. Stocks rose—along with crypto—on the news Friday morning Eastern Time.
The price of Ethereum, the second largest digital asset, fell earlier in the week – facing bigger losses than BTC – before making gains. Ethereum (ETH) is now up a little over 2% on the week and is trading at $2,306.
Elsewhere, Solana (SOL) was a winner again. Last week, one of the biggest, Solana prices jumped more than 10% in the week ending yesterday. It is currently trading at $97.86.
The surge may be due to a flurry of trading activity – transactions on the network have soared to new highs – after Solana's decentralized exchange (DEX) aggregator Jupiter finally launched its JUP token airdrop.
The market cap of the entire crypto industry stands at $1.74 trillion today, up nearly 2% from the previous day, according to CoinGecko.
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