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Bitcoin Is Back to $65K

After a brief drop in early September, Bitcoin price is now back to mid-60s. This rally is being attributed to a wide variety of reasons, from an increase in stablecoin minting and a sharp drop in the US dollar to strong demand in Bitcoin futures. Bitcoin ETFs got some love, too, hitting $365.7 million inflows on September 26. Analysts predict that the re-ignited interest in ETFs can help to sustain Bitcoin’s high price in the near future .

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Top Gainers and Biggest Losers

Over the past two weeks, FTX Token (FTT), Ethena (ENA), and dogwifhat (WIF) stood out as the top gainers among the top 100 cryptos, followed closely by Bonk (BONK). Monero (XMR) and Aave (AAVE) were the biggest losers.

FTX Token FTT

$1.40 ▴ 54.53%

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Ethena ENA

$0.35 ▴ 43.47%

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Monero XMR

$159 ▾ -12.16%

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What Is Pushing the Market?

Hamster Kombat has finally launched its token,
and it’s already making waves: HMSTR is currently top 15 in daily trading volume. The project has recently revealed its plans to regularly buy back some tokens and distribute them to active players .

The US Fed has recently announced
its decision to cut rates: and the crypto market immediately reacted, with market sentiment going positive. Despite prior expectations of rate cuts leading to a market drop, crypto held on , as, according to analysts, this decision was already ‘priced in’ and accounted for.

Are meme coins back on the menu?
SHIB, DOGE, and WIF are all now rallying ahead of the more established cryptocurrencies like Bitcoin and Ethereum. SHIB’s rise has been partly attributed to a 33,800% increase in the token’s burn rate.

A Solana-based token dedicated
to the newest Internet celebrity, the adorable baby pygmy hippo Moo Deng , has reached a market cap of $180M in under a week. MOODENG is now one of the top 100 cryptos by daily trading volume.

The current Fear & Greed index is equal to 61, finally crossing over to Greed from the Neutral status it has been in the past few weeks. Mild Greed like this could be pointing to possible corrections in the future , so investors remain vigilant.

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Analysts are forecasting a potential altseason in the near future: the total market cap of all altcoins has recently broken through its previous 6-month corrective trend.

With Bitcoin beating the previous price target of $65K, the next level to watch is $70,000.

Chainlink, a decentralized oracle provider, has recently predicted rapid growth for the tokenized asset market, forecasting it to surge to $10T by 2030.

Take a look into the future

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