The global crypto market is up by 1.68%, hovering around $2.14 trillion, with Bitcoin dominating more than half of it. The Fear & Greed Index is now at 50 points for neutral sentiments. It is anticipated that the market will experience further hikes as the Federal Reserve’s rate-cutting decision approaches. Chances are higher that the cut will be 25 bps, if not 50 bps. This should be sufficient for investors to divert their attention to riskier assets—cryptos.
Bitcoin and Ethereum tease a new high
BTC is above $60k, and ETH has surpassed $2,600. They are up by 2.35% and 1.17% in the last 24 hours, respectively. According to the Bitcoin predictions, movements within the specified range are expected. It is yet to be determined whether they will successfully circumvent the current neutral sentiments in order to introduce a new ATH. Bitcoin tokens are currently trading at $60,807, while Ether is listed at $2,623.11.
When it comes to Spot Ether ETFs, BlackRock has the majority of the market buzz. It is now the first Ether ETF to have crossed the milestone of $1 billion in net inflows. ETHA reportedly holds over $860 million in net assets. There are a total of 11 Spot Ether ETF issuers, with only Grayscale banking negatives.
Meme Coins turn green
The previous day was a mix of red and green; however, that has changed, and the majority of the meme coins are now trading in green. For starters, DOGE has surged by 1.76% in a single day, currently trading at $0.1055. Shiba Inu is following the trail with a jump of 2.83% during the same time window for a value of $0.000001405.
Suffice it to say, SHIB has outperformed Dogecoin in the last 24 hours. It could continue to do so, as predictions project a valuation of $1 for SHIB. That will be a massive surge, but the market is optimistic about it. Many analysts in the market are dubious. They believe that it could face severe competition from MNTR and MoonTaurus. It could deliver a return of 1600% in the times to come. Needless to say, these are speculations and may turn out to be wrong later.
Other Gainers and Losers
Despite bullish speculation, SOL has fallen by 0.36% in the last 24 hours. Solana is likely in a correction phase, with a token value of $142.23. It has bullish predictions, estimating a rise to $180 by the end of this year. Alternatively, it could close the year at around $150 before entering into next year. XRP has experienced a 0.46% increase and is currently trading at $0.598. It has risen by 5.08% in the last 7 days, despite the expectation that the SEC will not seek further clarification on the recent verdict.
WIF has made some massive gains in a single day. The meme coin has surged by 3.41% and is exchanging hands at $1.6. At a maximum stretch, it could reach the target of $2 by the end of November or December. FLOKI is making the best of the current scenario, wherein fluctuations are happening within a range. In the last 24 hours, the token has risen 6.48% to a value of $0.0001324.
Conclusion
Bitcoin and Ethereum are moving within the range, but there is little to no sign of them making advancements before public announcements about rate cuts. Meme Coins are in comparatively better shape.
Disclaimer: All values were true at the time this article was written. The content is intended for reference purposes only and should not be viewed as investment advice or a recommendation.