Bitcoin is approaching $27,000; Ethereum is trading above $1,600; and Toncoin is up 5%

Bitcoin made modest gains, rising approximately 1% to near $27,000 levels, while Ethereum increased little to hold its position over the $1,600 barrier.

Bitcoin and other crypto currencies were trading higher on Tuesday ahead of the Federal Reserve’s policy meeting, which is likely to preserve the status quo. Bitcoin’s market share in the crypto market has risen to above 50%, the most in the last 26 months.

Bitcoin made modest gains, rising nearly 1% and closing close on $27,000 after briefly touching it. Ethereum, its largest peer, also increased modestly to maintain its position over the $1,600 level. In the early hours, the price action in altcoins remained bullish.

The crypto market has traded sideways with an upward bias in the last 24 hours. It has been another positive day for Bitcoin as it touched $27,400 before pulling back slightly, In fact, the last 8 days have been pretty positive for the crypto market with Bitcoin rebounding about 10 per cent from its recent lows.

Other cryptos worth highlighting are Solana and Chainlink as they have been showing significant momentum ever since the market started to recover. With giants like financial service provider SWIFT using Chainlink’s infrastructure, we can see a significant upside if this momentum continues.

With a few exceptions, all of the biggest cryptocurrency tokens were trading higher on Tuesday. Toncoin increased by around 5%, while Solana increased by about 4%. Litecoin gained more than 3%, while XRP and Cardano gained 2% each. Among the losers were BNB, which fell by roughly 1%, as well as Polkadot and Shiba Inu.

The worldwide cryptocurrency market cap was trading slightly higher, climbing to $1.07 trillion, after rising approximately 1% in the previous 24 hours. However, total trade volumes increased by more than 63% to $30.13 billion.