Radhika Parashar
- BTC price has come to $117,520
- ETH is trading at $4,612
- The sector’s valuation has come to $4.01 trillion
The crypto market on Thursday, September 18 reflected small signs of recovery after the Fed announced the first interest rate cut of the year and slashed it by 25 basis points. Bitcoin on Thursday surged by 1.30 percent in the last 24 hours. With this, the price of the asset has come to $117,520, data by CoinMarketCap showed.
A successful move could push BTC toward $120,000 but traders are expecting the market to remain volatile in the aftermath of the Fed’s decision, market analysts said.
“BTC has been fluctuating between the 50-day SMA at $114,320 and the key resistance at $117,500. The 20-day EMA ($113,919) is sloping upward, and the RSI remains in bullish territory, suggesting a potential breakout above $117,500,” Sathvik Vishwanath, the Co-Founder and CEO of Unocoin told CoinHeadlines.
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Ether registered a price growth of nearly three percent over the last day. At the time of writing, the asset was trading at $4,612, data by CoinMarketCap shows.
“Bitcoin is moving upwards slowly despite initial volatility. Traders remains in split while some argue the cut was already priced in, optimism still point to Bitcoin regaining momentum toward the $120,000 mark if catalysts align. Ethereum, meanwhile, is flashing strength as bulls eye fresh record highs,” said Pi42 CEO Avinash Shekhar as commenting on the matter.
A majority altcoins reflected profits on Thursday owing to the small relaxation announced by the Fed.
Ripple, Binance Coin, Solana, USDC, Dogecoin, and Cardano managed to rope-in between two percent to five percent in gains. Tron, Hyperliquid, Chainlink, Avalanche, Sui, Bitcoin Cash, and Stellar also registered notable profits, CoinMarketCap showed.
The overall crypto market cap rose by 1.73 percent in the last 24 hours. With this, the sector’s valuation has come to $4.01 trillion.
The Fear and Greed score, as of Thursday, maintained the 51 score — indicating at the neutral investor sentiment.
“Overall, the market is trading cautiously, balancing macro policy signals with sector-specific optimism, and the next move hinges on how traders interpret Powell’s remarks in the coming sessions,” Shekhar added.
