Bitcoin rebounded and regained the $116,000 level on expectations of a U.S. interest rate cut.
According to CoinMarketCap, a global virtual asset market tracker, as of 8 a.m. on the 15th, bitcoin was trading at $116,023 per coin. That was up 0.02% from 24 hours earlier and 4.22% from a week ago. The price of bitcoin fell to $107,000 on the 1st, but has been strengthening on expectations of a benchmark rate cut.
Around the same time, ether was trading at $4,624, up 7.1% from a week earlier. On expectations of a rate cut, the price of ether at one point over the weekend surged more than 5% and broke above $4,700.
In particular, Solana rose 16.67% from a week earlier to $242.12. XRP climbed 5.71% to $3.04, and BNB rose 6.39% to $931.53.
The U.S. Federal Reserve will hold the September Federal Open Market Committee (FOMC) on the 16th–17th to set interest rates. Markets largely expect a rate cut. At the Chicago Mercantile Exchange (CME), where U.S. policy rate futures are traded, a 0.25 percentage point cut has already been priced in.