Bitcoin nears $118,000 on Fed rate cut

18/09/2025 Argaam
Cryptocurrency prices move up as Fed slashed interest rates by a quarter-point

Cryptocurrency prices move up as Fed slashed interest rates by a quarter-point

Cryptocurrency prices rose on Thursday after the US Federal Reserve cut interest rates for the first time this year by 25 basis points.

 

Bitcoin gained 1.4% to reach $117,350 at 11:23 am KSA time, after touching $117,936.90, accounting for around 57% of the total cryptocurrency market value.

 

Ethereum, the second-largest cryptocurrency by market capitalization, climbed 1.8% to $4,588.82, while Ripple jumped 2.85% to $3.1035.

 

The global cryptocurrency market capitalization stands at $4.1 trillion, with total trading volume over the past 24 hours reaching $212.54 billion, data released by CoinMarketCap showed.

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