CME Exchange Fuels Crypto Rally as Fed Rate Cut Sparks Market Surge

CME exchange News - The U.S. Federal Reserve's decision to cut interest rates by 25 basis points to 4% has ignited a significant rally across cryptocurrency markets. Bitcoin surged past $117,000, marking a 1% gain and reaching a one-month high. Ethereum followed with a 2.7% increase, though it remains within a narrowing trading range. Solana's SOL tested $245, boosted by anticipation of CME's planned options launch for SOL and XRP on October 13. XRP climbed nearly 3%, while BNB and Dogecoin outperformed with gains exceeding 4%. Despite the crypto market's positive response, the U.S. Dollar Index (DXY) strengthened to 97.30, indicating currency markets had already priced in rate cut expectations. This divergence underscores persistent macroeconomic uncertainties even as risk assets benefit from accommodative monetary policy.