**Crypto Markets Surge Amid Optimism and Rate Decisions**
Bitcoin extended its weekly gains to 10% after a whirlwind few days, including rate cuts by the U.S. Federal Reserve and a pause in cuts by the Bank of England. The Bank of Japan held rates steady, avoiding a repeat of Julyâs market turmoil. BTC briefly crossed $64,000 in Asian morning hours Friday before paring gains.
Open interest data from CoinGlass shows a nearly $5 billion jump in bitcoin bets since Tuesday, indicating new money entering the market. Traders are leaning towards long positions, suggesting optimism for higher prices.
Solanaâs SOL and Ether (ETH) surged as much as 7%, leading gains among major cryptos. Memecoins like BONK also saw a 10% rise, reflecting a return to risk-on behavior. The CoinDesk 20 index rose 3.5%, showing broad market strength.
What are your thoughts on the recent crypto market movements? Drop your comments below! đ
