Crypto Markets News | Bitcoin Surges Past $115K, ETH Rallies Ahead of Fed Rate Cut

What to Know

• Bitcoin climbed to $115,200 and Ether reached $4,160 as markets anticipate a Federal Reserve interest rate cut on Wednesday.
• BTC’s 30-day implied volatility fell to 44%, signaling reduced market anxiety, while longer-term options data show a neutral-to-bearish bias.
• Older tokens like ZEC, BCH, and DASH posted double-digit gains, while newer tokens such as plasma (XPL) and aster (ASTER) plunged amid declining enthusiasm and trading volumes.

Bitcoin Leads Market Rebound

Bitcoin (BTC) surged above $115,000 on Monday, hitting $115,200, after last week’s low of $103,602. Ether (ETH) followed suit, trading at $4,160, as traders positioned themselves ahead of the Federal Reserve’s expected rate cut.

The recovery reflects a broader shift in risk sentiment, with investors moving back into established cryptocurrencies while speculative altcoins showed mixed performance.

Bitcoin dominance ticked up slightly to 59.1%, highlighting that traders still prefer the more measured returns of BTC compared to higher-risk altcoins.

Read more: How the Federal Reserve’s Rate Cuts Impact Bitcoin and the Broader Cryptocurrency Market

Altcoins Show Divergent Trends

Older cryptocurrencies posted strong gains. ZEC rose 8% to $363.06, BCH advanced 8% to $565.22, and DASH jumped 9.5% to $51.55. These moves suggest renewed confidence in established networks amid market uncertainty.

By contrast, newer tokens faced sharp declines. Plasma (XPL) dropped to $0.36 from a launch high of $1.67, and aster (ASTER) fell to $1.07, losing 43% over the past month. Lower trading volumes and fading hype have pressured these assets, indicating limited retail participation in speculative tokens.

Derivatives and Volatility Insights

Bitcoin’s 30-day implied volatility (BVIV) fell to 44%, signaling easing short-term uncertainty. At the same time, longer-dated BTC and ETH options maintain a slightly neutral-to-bearish bias.

Open interest in major USDT- and USD-denominated crypto futures has risen modestly, reflecting capital inflows amid the rally. However, total leveraged trader participation remains below the levels seen on October 21, indicating cautious market engagement.

Traders on the CME continued to sell calls to generate premium, reflecting a hedging strategy amid the price bounce.

Key Technical Levels

Bitcoin (BTC):

• Support: $114,000, $112,500, $110,000
• Resistance: $116,500, $118,000, $120,000

Ether (ETH):

• Support: $4,100, $4,000, $3,900
• Resistance: $4,200, $4,300, $4,500

ZEC: Support at $355, resistance at $375
BCH: Support at $550, resistance at $580
DASH: Support at $50, resistance at $55

Breakouts above resistance could trigger further upside, while failure to hold support may invite short-term corrections.

Market Drivers

Several factors are shaping crypto prices ahead of the Fed meeting:

• Federal Reserve Rate Outlook: Markets are pricing in a high probability of a 25 bps cut. Any deviation could spark sharp moves.
• Institutional Activity: Large capital inflows into BTC and ETH suggest confidence in established tokens.
• Altcoin Speculation: Declining volumes in newer tokens reflect fading retail enthusiasm and speculative fatigue.
• Global Macro Data: Dollar weakness and geopolitical uncertainty are supporting risk-on trades for BTC and ETH.

Bottom Line

The crypto market is showing a cautious recovery ahead of the Federal Reserve’s key interest rate decision. Bitcoin and Ether lead the rebound, while older altcoins are benefiting from renewed confidence. Speculative tokens, however, continue to struggle amid lower trading volumes.

Traders should watch key technical levels and Fed announcements closely. BTC above $116,500 could trigger further upside, while failure to hold $114,000 may invite a pullback.