[Bitcoin Now] Bitcoin Recovers $110,000... Ethereum and Ripple Up 3%

Bitcoin, the leading cryptocurrency, has once again surpassed the $110,000 mark. Altcoins-cryptocurrencies other than Bitcoin-such as Ethereum and Ripple (XRP) are also on the rise, gaining more than 3%.

According to CoinMarketCap, a global cryptocurrency market tracking site, as of 10:59 a.m. on August 27, Bitcoin was trading at $111,302.15, up 1.33% from 24 hours earlier.

Bitcoin had previously fallen below $110,000 on August 25. After Federal Reserve Chairman Jerome Powell hinted at the possibility of monetary policy easing in September on August 22, cryptocurrencies initially reacted positively. However, as expectations for a rate cut weakened, the upward momentum faded and prices reversed course, with Bitcoin notably dropping below $110,000.

Altcoins are making a significant rebound. Ethereum is up 3.26% from the previous trading day, while Ripple has jumped 4.11%. In addition, Solana has risen 4.20%, and other coins such as Tron and Dogecoin are also recording gains of 2% to 3%.

The market appears to be seeing a wave of bargain buying focused on altcoins. Recently, Ethereum has attracted strong buying interest due to its higher rate of increase compared to Bitcoin. As a result, investor sentiment toward major altcoins such as Ripple and Solana is also believed to have recovered.