2024-09-17 20:54:00 by Benzinga

Cryptocurrency markets are trading higher ahead of Wednesday’s interest rate decision. CryptocurrencyPriceGains +/-Bitcoin BTC/USD$60,346.5+3.9%Ethereum ETH/USD$2,351.85 +2.8%Solana SOL/USD$132.5+1.1%Dogecoin DOGE/USD$0.1013+1.7%Shiba Inu SHIB/USD$0.00001335+1.7%Notable Statistics: IntoTheBlock data shows a 55% increase in Bitcoin's large transaction volume and a 6.4% spike in daily active addresses. Transactions greater than $100,000 widened from 6,005 to 7,493 in a single day. Coinglass data noted 46,219 traders were liquidated in the past 24 hours as total liquidations stood at $125.31 million. Notable Developments: Singapore’s DBS Bank Launches Bitcoin And Ethereum Options Trading For Institutional Clients Donald Trump’s New Crypto Project World Liberty Financial: Everything You Need To Know Bitcoin, Ethereum, Dogecoin Pump 5%: Here’s What Wednesday’s Fed Rate Cut Decision Could Mean For Crypto Howard Winklevoss Donates $4M In Bitcoin To Grove City College CleanSpark Acquires New Bitcoin Mining Sites: What’s Going On With The Mining Stock Tuesday? Top Gainers: CryptocurrencyPriceGains +/-Immutable IMX/USD$1.42+15%Celestia TIA/USD$5.22+13.3%Fantom FTM/USD$0.5693+10.4%Trader Notes: IntoTheBlock stated that as Bitcoin is chasing the $61,000 mark, traders should watch out for $64,000 as the key level, where 1.57 million addresses are currently holding at a loss. The price spike led crypto trader Jelle to predict that a break above the dotted line could lead to "Q4 turbo bull thesis…a reality." Nothing like #Bitcoin rallying straight into resistance, the day before a major news event.Closed my leveraged positions again here — time to ride spot until the dust settles. Break above the dotted line, and the Q4 turbo bull thesis becomes a reality.Let's see 👀 pic.twitter.com/mezW2n8ns8— Jelle (@CryptoJelleNL) September 17, 2024In another tweet, Jelle sees that the market is gearing up for a sell-the-news candle tomorrow. He noted that this could be the most important FOMC event in a long time. Stockmoney Lizards predicts that a weekly close above $60,000 will lead to a bullish flip and an expected consolidation at $60,000/$61,000 before heading towards $65,000. He also marked BTC making a new short-term high. Crypto Rover highlighted a chart to show BTC movement the last time rates were cut by 50 basis points. What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19. Read Next:  Bitcoin Gearing Up For Next Bull Run? On-Chain Analysis Says It Just Might Be Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.