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Cryptocurrency News Articles
Bitcoin (BTC) Price Anticipates a Rocket as China Cuts Interest Rates, ETH Drops Marginally
Sep 25, 2024 at 05:10 pm
Today, the global crypto market prices reflected a slight uptick, trying to sustain the rally ignited following the Federal Reserve rate cut. However, the uptrend among top altcoins was mostly marginal
Crypto prices showed a mixed trend on September 25, with Bitcoin (CRYPTO: BTC) showing a slight gain and Ethereum (CRYPTO: ETH) showing a marginal decline. Most altcoins showed limited price changes, except for Cardano (CRYPTO: ADA), which showed a notable uptick.
Here's a summary of the crypto market performance over the last 24 hours.
Bitcoin showed a brief surge, climbing to $64,000 in early Asian trading hours. However, at the time of writing, BTC traded at $63,879, showing a 0.24% gain. The coin's 24-hour trading volume surged by 10% to $29.3 billion, indicating increased on-chain activity among traders and investors.
This price movement comes as Bitcoin ETFs saw an inflow of $135.95 million on September 24. Meanwhile, China's 20 bps short-term interest rate cut and 50 bps reserve requirement ratio cut are expected to positively impact the crypto market. This is because these measures will likely increase money circulation, which could be channeled into riskier assets like cryptocurrencies.
Ethereum, the leading altcoin, took a different path, showing a marginal decline over the last 24 hours. According to CoinMarketCap data, ETH's price dipped by 0.94% to $2,623. At the same time, its 24-hour trading volume decreased by 2.37% to $16.2 billion. Notably, ETH ETFs saw a daily total net inflow of $62.51 million on September 24, as per Soso Value Data.
Solana showed a slight uptick over the last day. SOL's price increased by 1.49% to $150.28. Solana's 24-hour low and high were $144.85 and $153.61, respectively. The coin's market cap reached $70.42 billion at the time of writing.
XRP, the seventh-largest crypto by market capitalization, also showed a decline at the time of writing. XRP's price lost 0.19% over the last 24 hours to $0.588. The coin's 24-hour range was between $0.5818 and $0.596, and its market cap stood at $33.18 billion.
As XRP's price continues to consolidate around $0.5 and $0.6, crypto analysts have predicted a bullish outcome for the coin in the coming months. Earlier this month, an XRP pundit predicted a $6 surge in 2025, citing a building symmetrical triangle in XRP's trading chart.
Binance Coin (BNB) showed a slight decrease at the time of writing. The Binance-backed coin declined by 1.29% to $597.18 and maintained a 24-hour range of $593.67 and $612.14, respectively. TRX's price lost 1.13% to trade at $0.1506 with 24-hour lows and highs of $0.1501 and $0.1526, respectively.
Cardano (ADA) showed the most gains among the top cryptocurrencies. The proof-of-stake blockchain token surged by 3.53% at the time of writing to change hands at $0.3817. Additionally, Cadano's trading volume over the last day jumped by 41% to $335 million.
The memecoin market reflected a broader uptrend in the last 24 hours. Dogecoin's price increased by 0.47% in value to $0.1093 today. Shiba Inu, the second-largest memecoin by market cap, climbed by 1.96% to $0.00001492. PEPE added 1.74% while Dog Wif Hat (WIF) increased by 4.40%.
Top Trending Crypto Gainers Today
Sei (SEI) skyrocketed by 24.29% to reach $0.461
Sui (SUI) surged 12.34% to $1.74
Shitcoin (SOL) SHIT moved up by 11.67% to $0.01185
Chiliz (CHZ) added 10.72% to $0.06719
AI Companion (AIC) jumped by 9.14% to $0.120
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