The cryptocurrency market has increased by 4% in the last 24 hours due to heightened anticipation of a rate cut by the Federal Reserve and the increase of Bitcoin to $94,000.
Investors are optimistic, as the probability that the Fed will lower rates by 25 basis points (bp) on December 10, 2025, is 89.6%. Generally, rate cuts tend to favor liquidity-sensitive assets like cryptocurrencies.
In addition to the increase in the price of Bitcoin, which has reached a low of $89,500, other leading altcoins like ADA, XRP, Solana have massively gained, and this is good news for the strengthening of the market.
The rally is brewing as tomorrow the Federal Open Market Committee (FOMC) meeting is held, and the Fed is expected to announce its third rate cut this year.
However, the introduction of a pilot program by the Commodity Futures Trading Commission (CFTC) has also contributed to market optimism. It is believed to help increase confidence in the cryptocurrency sector. All of this has generated a bull market as investors anticipate better conditions.
The price of Ether rose to $3,373, showing a notable increase of 10% in a recent trading session.
Ether had a sudden upward trend and surpassed major resistance points according to bullish candlestick lines on the 4-hour chart.
The upward trend is also supported by technical indicators. The MACD shows a positive crossover, and the MACD line is moving upward from the signal line at 22.95. This implies that there will be positive momentum.
The RSI, sitting at 76, indicates that Ethereum is moving into an overbought zone, but the price may continue to rise.
The price of Ethereum has surpassed its recent resistance of $3,300 and has a key target of $3,500. If Ethereum maintains support above $3,300, it could continue its upward trend.
