Bitcoin Nears $117K While Altcoins Party Like It’s 2022 🎉🚀

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Markets

What to know:

  • Ah, the major cryptocurrencies surged-like a cavalry charge on the steppe-after the Federal Reserve’s interest-rate cut, though the wise men of finance sniff cautiously, wary of unstable skies.
  • Bitcoin, that grand titan of the digital realm, flirts dangerously with $117,300, as its dominion wanes like the fading shadow of an old czar’s empire, while restless investors seek more capricious ventures.
  • The kingdom of decentralized finance, vast and mysterious, swells to a treasure hoard of $170 billion-the greatest since the spring blossoms of April, 2022.

The great cryptic beasts-bitcoin, ether (ETH), XRP, solana, and their kin-dance boldly forward, stirred by the Federal Reserve’s decree on a Wednesday that seemed as portentous as a church bell tolling in a snowstorm.

Yet, the prudent voice persists, whispering of caution amidst the revelry.

Timothy Misir, a scholar of markets, cast in the role of messenger, declared by electronic mail: “The Fed’s rate cut has breathed life into crypto’s pulse, yet the dance is not pure. The big players move like careful generals, while the exchanges show hints of traders slipping away like deserters under moonlight.”

He counsels that the price of bitcoin be treated like a sacred fortress-between the ramparts of $115,000 and $115,500-where risk should be guarded like a wary sentry.

Derivatives Positioning

by Omkar Godbole

  • The triumvirate of BNB, AVAX, and DOT have ignited flames of progress, their futures’ open interest swelling double digits as if the gusts of fortune themselves blow strongly in their direction, with their prices rising a gallant 5% to 9%.
  • BCH, TRX, BNB, BTC, XMR, AVAX, and SUI parade about under a banner of positive open interest-adjusted cumulative volume delta, declaring the strength of their buyers as if shouting from a marketplace.
  • Yet even at the edges of this frenetic bazaar, no sign of feverish folly appears, as annualized funding rates hover modestly near 10%-small enough to prevent faint-hearted hysteria.
  • On the grand stage of the CME, ether futures near the lofty summit of 2 million ETH-a figure both majestic and daunting-while BTC futures linger like a sullen nobleman at court. The annualized three-month basis for both remains shy of 10%, modest when compared to SOL‘s audacious 17% yield, a dashing rogue among tokens.
  • Over at Deribit, the 25-delta risk reversals muse with a melancholy tune-neutral to bearish, a bittersweet dirge for some options until March, while ether options keep a spirited, bullish tune across all tenors, as if heralding brighter days.
  • Meanwhile, block flows on the OTC network Paradigm tell tales of eager appetites for the $116K call expiring on September 19 and the $100K put hiding until the 31st of October-a curious dance of hope and fear.

Token Talk

By Oliver Knight

  • The altcoin realm, once dark and brooding from oversold ordeal, now brightens like a mirthful tavern after the storm, with tokens boasting gains soaring above 10%, a toast to resilience.
  • Leading this merry band is ether.fi (ETHFI), which leaps 12% to $1.64-the highest since January, like a prodigal son returning home with stories to tell.
  • BNB, never one to be outdone, shatters the thousand-dollar barrier, galloping toward new heights as if chasing a dream only a true optimist could conjure.
  • All this unfolds as bitcoin inches toward $117,300, lingering like a cautious noble above the protective moat of $110,000 support.
  • But in this shifting world, bitcoin’s dominance slips to 56% on CoinMarketCap-the lowest since the early days of January-signaling that investors’ hearts beat faster for riskier, more whimsical adventures.
  • The decentralized finance sector, that vast and wild expanse, revels as one of the chief beneficiaries of Thursday’s surge, amassing a treasure chest of $170 billion across all protocols-an imperial vault unopened since April of the previous year.
  • Hyperliquid’s layer-1 blockchain scales a new pinnacle: $2.77 billion, a 3.88% rise in a day, while Sui’s coffers swell by 3%, now standing proud at $2.1 billion-a testament to the ceaseless quest for fortune in the digital wilderness.

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2025-09-18 16:19