Bitcoin Hits $117K as Ethereum, XRP, and Dogecoin Rally on Fed Rate Cut
The cryptocurrency market roared higher this week as the Federal Reserve delivered its long-awaited rate cut, igniting strong rallies across digital assets. Bitcoin surged to $117,000, reclaiming a key psychological milestone, while Ethereum, XRP, and Dogecoin followed suit with impressive gains.
Federal Reserve Sparks Risk-On Rally
The Fed’s decision to trim rates marked a pivotal shift in monetary policy, sparking optimism across global risk markets. For crypto, which thrives in liquidity-rich environments, the move signaled the return of capital inflows.
Bitcoin’s rally was immediate, pushing past $115,000 resistance before briefly touching $117,000, its highest level in weeks. Analysts suggest that lower borrowing costs and improved risk appetite will continue to benefit digital assets.
Ethereum, XRP, and Dogecoin Join the Party
- Ethereum (ETH) jumped back above $4,400, buoyed by growing ETF holdings and rising activity in its DeFi ecosystem.
- XRP climbed near $3.25, boosted by technical breakouts and ongoing ETF speculation that could drive institutional inflows.
- Dogecoin (DOGE) shined as well, bouncing nearly 12% on the day and pressing against the neckline of a bullish Adam & Eve pattern that targets $0.30+ in the short term.
Investor Sentiment Turns Bullish
The rate cut has rejuvenated sentiment after weeks of volatility triggered by inflation data and geopolitical tensions. Traders now anticipate a period of strong momentum as liquidity re-enters risk assets.
“Crypto markets are highly sensitive to monetary policy shifts,” explained one strategist. “With rate cuts back on the table, both Bitcoin and major altcoins could see sustained inflows, especially from institutional desks positioning ahead of Q4.”
Key Levels to Watch
- Bitcoin: Resistance at $118,500, with support at $113,000.
- Ethereum: Needs to clear $4,600 to confirm continuation.
- XRP: Eyes $4.40 and $7.50 as breakout targets.
- Dogecoin: Watching $0.244 neckline for confirmation of a pattern breakout.
Final Thoughts
The Fed’s rate cut has reignited crypto’s bullish momentum, pushing Bitcoin to $117K and lifting top altcoins. With institutional interest rising and macro tailwinds aligning, the stage is set for a potentially decisive final quarter of the year.
