Fed Cuts Rates, BTC Calms at $116K, BNB Hits $1K, and XRP ETF Goes Live: Your Weekly Crypto Recap
It was one other large week for monetary markets, together with crypto, because the US Federal Reserve lastly minimize the rates of interest for the primary time in 2025.
But first, let’s rewind to the earlier week to discover how BTC behaved within the days resulting in the Wednesday FOMC assembly. At this time final week, bitcoin’s worth struggled under $115,000 earlier than it jumped by a couple of grand and tapped $116,800 for the primary time in almost a month.
The subsequent weekend was lots calmer as BTC spent it trapped in a variety between $116,200 and $115,000. Monday started with some volatility that noticed the asset soar to $116,800 once more, the place it was stopped and pushed south to $114,400. However, the bulls intercepted the transfer and drove bitcoin north to $117,200.
Then got here the extremely anticipated FOMC assembly during which the US Fed adopted Trump’s calls and reduced the important thing rates of interest by 25 bps. At first, it appeared as if the market had certainly priced the transfer in as BTC remained primarily caught. However, it began to realize extra traction on Thursday morning when it jumped to nearly $118,000 to mark a brand new multi-week peak.
Its progress was halted at that stage, because the asset has misplaced roughly two grand and now struggles to stay above $116,000. Still, its weekly efficiency exhibits a minor enhance. However, it’s nowhere close to as spectacular as AVAX’s 20% surge or the brand new all-time highs from BNB, which crossed the $1,000 mark for the primary time, and HYPE (at nearly $59).
Market Data
Market Cap: $4.150T | 24H Vol: $144B | BTC Dominance: 55.7%
BTC: $116,120 (+1%) | ETH: $4,520 (+0.04%) | XRP: $3.04 (+0.11%)
This Week’s Crypto Headlines You Can’t Miss
Arthur Hayes Sees $1M Bitcoin With Trump’s Fed Nominee Confirmed. The former BitMEX CEO was fairly energetic on social media this week, warning that the US authorities received’t cease printing cash. That may assist BTC’s rally towards the greenback, he defined, and added that the asset may skyrocket to $1 million, particularly if Trump’s Fed nominee is appointed.
Gold Soars, Bitcoin Stalls: Unpacking the Strange Divergence in Financial Markets. While the dear steel continues to construct on throughout this historic yr and chart new all-time highs towards the buck, BTC’s rally has stalled as of late, prompting some to query its protected haven standing.
Bitcoin’s ‘True Top’ May Already Be In: Nadeau Warns of Déjà Vu From 2021 Cycle. And whereas we’re on the subject of a stalled bitcoin run, a current report famous that the cryptocurrency’s true high may need already been in, and the analyst warned a few potential large correction on its manner.
SEC Postpones Decision on Truth Social Bitcoin ETF. The US Securities and Exchange Commission continues to delay making selections on a number of crypto-focused ETFs. The newest to experience a postponement was Truth Social’s Bitcoin ETF.
First US Spot XRP & DOGE ETFs Break the Market With Record Inflows. At the identical time, REX-Osprey’s ETFs monitoring the efficiency of DOGE and XRP went dwell for buying and selling on Thursday. Interestingly, each merchandise saw massive demand, particularly the one tied to Ripple’s native token.
Ethereum Devs Announce Fusaka Release Schedule With Mainnet Launch in December. With a number of large updates already taken care of, Ethereum builders outlined the subsequent scheduled one. Called Fusaka, it ought to be accomplished by December in a number of levels, as the primary one will launch on October 1.
Charts
This week, we’ve got a chart evaluation of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
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