Bitcoin Stabilises Near $116,900 as Altcoins Push Higher

Crypto markets are set to enter the weekend on a steady note after the US Federal Reserve's 25 basis points (bps) rate cut earlier this week. Bitcoin is trading at $116,900 (roughly Rs. 1.03 crore) and Ethereum (ETH) is priced at $4,500 (roughly Rs. 3.99 lakh), while other major tokens like XRP, BNB, Solana, and Dogecoin are also reflecting resilience. This month marks one of the best mid-month rallies for Bitcoin, as the current price action marks an eight percent gain. Bitcoin stands at Rs. 1.02 crore, while Ethereum trades at Rs. 3.98 lakh as per the price tracker on Gadgets 360.

Altcoins Like XRP, Solana, BNB, and Dogecoin Maintain Strength as Traders Await Powell's Signals

XRP trades at $3.03 (roughly Rs. 267), Binance Coin (BNB) at $997.02 (roughly Rs. 87,900), Solana (SOL) at $244.20 (roughly Rs. 21,500), and Dogecoin (DOGE) is consolidating at $0.2757 (roughly Rs. 24). Traders now await Federal Reserve Chair Jerome Powell's commentary for more signals on rate direction and its potential to drive risk-on appetite in crypto. 

The CoinSwitch Markets Desk highlighted that crypto markets were showing signs of moderation after a strong start to September and further added, “ If BTC breaks above resistance with volume, further gains are possible, but a failure could lead to a pullback toward support. On the flows front, Bitcoin spot ETFs have enjoyed strong inflows recently: ~$2.3 billion (roughly Rs. 20,269 crore) over a recent week [...] Ethereum (ETH) ETFs, by contrast, have seen some outflows of $60–70 million (roughly Rs. 528 crore–Rs. 617 crore).”

Avinash Shekhar, Co-founder & CEO of Pi42, shared his perspective, “The market is now watching a strong probability of fresh all-time highs within weeks [...] Altcoins are also taking the spotlight, Solana climbing near $250 (roughly Rs. 22,040) and Chainlink outperforming peers on strong momentum. Dogecoin is particularly noteworthy [...] Overall, sentiment remains constructive, with capital rotation into altcoins reinforcing the bullish undertone across the market.”

Edul Patel, CEO of Mudrex, commented on intraday dynamics, “With the Dollar remaining under pressure, despite the rate cut, inflows into safe-haven assets such as Bitcoin are expected to increase, helping in the price action. Meanwhile, Ethereum is also gaining momentum, supported by whale accumulation of $3.8 billion (roughly Rs. 3,35,830 crore) worth of ETH in just 72 hours.”

Market traders will keep a watchful eye on Powell's comments and macroeconomic data for further cues on the sustainability of this current rally. A breakthrough above $118,500 (roughly Rs. 1.04 crore) could pave the way for some new highs, while a support near $115,000 (roughly Rs. 1.01 crore) may act as a cushion for downside risks.