Crypto Price Today: Bitcoin rises above $29k; Ethereum, Polygon surge up to 3%

Cryptocurrency markets increased after the US Federal Reserve raised its benchmark lending rate by 25 basis points to cool inflation. Bitcoin (BTC) rose 2.44% to $29,152, with Ethereum (ETH) over the $1,900 level. Investors were waiting for upcoming US employment figures scheduled to be released on Friday. Bitcoin needs to reclaim $30,000 to strengthen its 2023 rally. Meanwhile, the global cryptocurrency market cap is trading higher around $1.20tn, rising 2% in the last 24 hours. The market cap of Bitcoin was approximately $563bn, with Bitcoin’s dominance currently 47.13%, according to CoinMarketCap.