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After a streak of volatility over the past few days, the price of Bitcoin<\/a><\/span> (BTC) briefly reclaimed the 24,000 mark on Wednesday night, rising to levels last seen mid-August last year.<\/p>\n Despite a drop to $23,800 by press time, the largest cryptocurrency is up 3.6% over the day and as much as 42% over the last 30 days, data from CoinGecko<\/a> shows.<\/p>\n The latest price action comes in the wake of the Fed\u2019s decision<\/a> to increase interest rates by 25 basis points from 4.5% to 4.75%. It also follows the bullish performance in January, when Bitcoin gained almost 40% in value\u2014the best result since 2013, according to Bitcoinmonthlyreturn.com<\/a>.<\/p>\n Another interest hike shows that the policymakers\u2014despite the economy\u2019s steady growth\u2014are still concerned about inflation, however, as CoinShares Head of Research James Butterfill told Decrypt<\/i>, \u201cthe markets aren’t buying it.\u201d<\/p>\n It’s not just Bitcoin that’s enjoying a bullish uptick amid the latest decision from the Federal Reserve.<\/p>\n Ethereum<\/a><\/span> (ETH), the market\u2019s second-largest cryptocurrency by market cap, is up 6.2%, trading hands at $1,670, per CoinGecko<\/a>.<\/p>\n Six months into its proof-of-stake (PoS) era, Ethereum is now preparing for its much-anticipated Shanghai<\/a> upgrade, which will allow users to withdraw staked ETH. The testnet for the upgrade, dubbed Zhejiang<\/a>, went live on Wednesday to simulate the process.<\/p>\n Elsewhere in the market, the Polygon<\/a> (MATIC) is the biggest winner of the day with a 13% increase in value, which took the price of the token to a three-month high of $1.23.<\/p>\n Other top performers include Binance Coin<\/a> (BNB), which is up 7.5% on the day, and Cardano<\/a> (ADA), which spiked 5.6% over the span.<\/p>\nAltcoins join Bitcoin jump<\/h2>\n