Why Is Crypto Going Up Today? Key Drivers Behind the Market Rally

Crypto Going Up Today as Fed Rate Cut Hopes and Altcoin ETFs Boost

Why is crypto going up today ?

The cryptocurrency market is making waves with its rising nature as the global market cap is $3.96 trillion after a 2.12% surge, with a total volume of $251.42, with a rise of 2.38% recorded in 24 hours.

The trending coins of decentralized system like Bitcoin is trading at $114,236.93 reflecting a surge of 2.41% in a day, on the other hand the Ethereum is trading at $4,408.82 with 2.15% up today, as per CoinMarketCap. 

Factors influence the crypto market?  

The digital asset market climbed 2.19% in the past 24 hours , pushing its increase to +2.56%. It is possible due to strong investor support, positive outlook on regulations and steady technical technical signals. 

The crypto market is going up today due to these key factors:

• Bitcoin Bullish news: On September 10, Bitcoin ETFs showed a $757.14M, which was $23.05 million yesterday. in fresh inflows and Fidelity (FBTC) taking the lead with $298.98 million daily inflow. 

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Source: Sosovalue

• Ethereum Bullish news: On September 9, Ethereum ETFs broke daily outflows from the past 6 days, in the recent updates on September 10, it showed $171.54 million inflows. Blackrock is taking the lead with $74.50M daily influx. 

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Source: Sosovalue 

• Possibility in Fed Rate Cuts: A weak U.S jobs report has raised the chance of a September Fed Rate Cut to 91.1% with markets even eyeing a 50bps move. The history shows each 1% cut often brings 15-20% gains within six months. Fed’s September 17 decision and August CPI on Thursday confirmation of cuts could fuel further gains. 

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Source: Fedwatch 

• Altcoin Bullish news: over the past 30 days, Altcoin season Index has jumped 131% while BTC dominance eased from 59.92% to 57.43%. This shows that the investors are shifting toward altcoins for bigger potential returns, but with $960B in open interest, the high leverage leaves the markett vulnerable to sharp liquidations if Bitcoin loses momentum

Crypto going up today, what Fear and Greed Index says? 

Fear and Greed index is showing positive nature, the reason for the crypto is up today, yesterday it was at 49 and now at Greed- 54. These metrics gauges market sentiment with higher values indicating bullish sentiment. 

The current status of the index shows a strong investors confidence, last month the Greed was 68, its the start of the month just wait and watch to see the bullish nature of digital assets ahead.

Source: Alternativeme

In short, why is crypto going up today? 

The recent uptrend in the cryptocurrency  is being driven by strong ETF inflows, expectations of potential Federal Reserve rate cuts, and a noticeable shift toward altcoins. Positive sentiment reflected in the Fear and Greed Index further highlights investor confidence.

Should upcoming economic data confirm supportive monetary conditions the current momentum in digital assets is likely to extend further.