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Bitcoin, Ethereum, and Dogecoin React Positively to Fed’s Decision: On September 18, 2024, at 3:26 PM, the global cryptocurrency market cap dipped by 0.9%. One trader pointed out that Bitcoin (BTC) is trying to break a trend line to kick off a bull run. Another trader shared plans for both long and short trades.

After the Federal Reserve announced a 50 basis point cut, cryptocurrency prices remained relatively stable. This move made riskier assets more attractive.

Current Cryptocurrency Prices:

  • Bitcoin (BTC/USD): $60,376.37 (-0.4%)
  • Ethereum (ETH/USD): $2,322.72 (-1.3%)
  • Solana (SOL/USD): $130.3 (-1.7%)
  • Dogecoin (DOGE/USD): $0.101 (-0.3%)
  • Shiba Inu (SHIB/USD): $0.00001334 (-0.04%)

Key Statistics: According to IntoTheBlock, large transaction volume dropped by 8%, while daily active addresses increased by 4%. Transactions over $100,000 rose from 7,579 to 8,280 in a single day. Additionally, exchange net flows decreased by 238%. Coinglass reported that 56,823 traders were liquidated in the past 24 hours, totaling $124 million. HODL15 Capital noted that U.S. Bitcoin ETFs continue to buy more than 100% of newly mined Bitcoin, purchasing 2,921 Bitcoin yesterday compared to 450 mined.

Notable Developments:

  • Revolut plans to launch a stablecoin, emphasizing their belief in "banking without borders."
  • Jamie Dimon mentioned that JPMorgan is likely one of the bigger users of blockchain technology but referred to cryptocurrencies as a "pet rock."
  • An Ethereum co-founder stated that Donald Trump is "certainly the favorite" over Kamala Harris for crypto.
  • Hamster Kombat is launching a game development ecosystem aimed at onboarding the "next billion" into Web3.
  • MicroStrategy raised $875 million in convertible notes, planning further Bitcoin purchases.
  • The Shiba Inu team announced the launch of K9 Finance liquid staking on Shibarium, hinting at potential acceleration in SHIB burns.

Top Gainers:

  • Nervos Network (CKB/USD): $0.01754 (+10%)
  • Fantom (FTM/USD): $0.6171 (+8.2%)
  • BinaryX (BNX/USD): $1.56 (+7.8%)

Trader Insights: Crypto analyst Ali Martinez predicts that closing above $61,500 today could signal the return of the bull market!

What’s Next: The impact of Bitcoin as an institutional asset class will be explored at Benzinga’s Future of Digital Assets event on November 19.

Whale Games: A Bitcoin trader took home an $11.6 million profit, but there’s much more in their portfolio.

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