The post BTC Surges Past $65K: Market Sentiment Brightens in Q4 After Fed Rate Cuts appeared on BitcoinEthereumNews.com.

Market liquidity is poised to improve significantly in the fourth quarter of this year. The Federal Reserve’s upcoming meeting has lifted market sentiments, serving as a strong tailwind for the crypto sector. BTC surged past the $61,000 mark, while ETH climbed to $2,600. Discover the latest trends and market dynamics in the crypto world with our detailed analysis of recent developments. Bitcoin and Ethereum Lead the Market Revival September 17 marked a pivotal moment as Bitcoin broke free from sub-$58,000 levels, surging past $61,000 in just two days. This dramatic rise saw BTC achieving an impressive weekly gain of 7.52%. Ethereum followed suit, recovering from a low of $2,150 to reach new highs at $2,600. Notably, the ETH/BTC ratio also rebounded above 0.04, signaling renewed market confidence. Altcoins Making Significant Headway Leading the altcoin charge was AAVE, which soared past $180, its highest since May 2022. Other altcoins joined the rally, breathing new life into the market. Sui, for instance, displayed exceptional resilience by bouncing back to near $1.8 from a low of $0.5 in August, driven by a flurry of positive news. The Impact of Macroeconomic Factors The Federal Reserve’s decision to slash interest rates had immediate reverberations in the crypto market. As concerns and uncertainties faded, the market looked buoyant. Ki Young Ju, CEO of CryptoQuant, highlighted the notable reduction in institutional short positions on Bitcoin over the past five months. Institutional and Investor Actions Steer the Market Institutional moves played a significant role in the ongoing rally. Sui witnessed major boosts from its inclusion in Grayscale Trust and Binance’s introduction of SUI coin-margined perpetual contracts with up to 20x leverage. Mysten Labs’ announcement of a $600 gaming handheld pre-order further stoked investor interest. Spotlight on Prominent Projects Sui’s total value locked (TVL) surpassed $1 billion following the…

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Filed under: News - @ September 25, 2024 3:13 am