Bitcoin Jumps, XRP and Ethereum Fall. This Can Spark the Next Crypto Rally.
Sep 17, 2025 06:10:00 -0400 by Callum Keown | #Cryptocurrencies
The price of Bitcoin has climbed 7.5% in September as it looks to retest its high above $124,000. (Dreamstime)
Key Points
About This Summary
- Bitcoin rose 1.1% in the last 24 hours, trading at $116,747, as investors await the Federal Reserve’s interest-rate decision.
- The market anticipates a quarter-point cut with a 96% probability, potentially boosting cryptocurrencies if the Fed agrees.
- Ethereum decreased by 0.2% to $4,504, while XRP fell 0.4% to $3.02, showing mixed performance among digital assets.
Bitcoin jumped but other cryptocurrencies were under pressure Wednesday as investors awaited the Federal Reserve’s latest interest-rate decision.
The price of Bitcoin was trading at $116,747 early in the day, up 1.1% over the past 24 hours, according to CoinDesk data. The world’s largest cryptocurrency has risen 7.5% in September, edging closer toward the record high above $124,000 that it hit in the middle of August.
Bitcoin’s latest jump comes as “cryptocurrencies attempt to break free from the deep corrective phase that has dominated recent weeks,” XS.com analyst Samer Hasn said Wednesday. “The move comes with improved flows into crypto-related products and no major long liquidation events, which leaves room for further upside in the near term.” He noted that Wednesday’s Fed decision was the main driver of risk appetite.
The market is confident that a quarter-point cut is coming—giving it a 96% probability, according to CME’s FedWatch tool. Traders see a 71% chance of a total of three 25 basis-point cuts by the end of the year.
Any indication that Fed officials share that view, or even project more cuts, could give cryptocurrencies further support. Lower interest rates tend to support cryptos, as lower borrowing costs make risky assets more attractive relative to lower-yielding investments, such as bonds.
Other digital assets were more mixed. Ethereum , the second-biggest crypto, was down 0.2% at $4,504, though it has jumped 78% since the beginning of July. Popular altcoin XRP fell 0.4% to $3.02.
Write to Callum Keown at callum.keown@dowjones.com