Bitcoin Near $120K as Ether Soars on 401(k) Crypto, Fed Bets
Cryptocurrency markets dey advance as Bitcoin hold near $120,000 and Ether jump almost 30%, e be like say President Trump don direct make dem explore how to put crypto for 401(k) plans plus wetin Fed go do on top rate cut get people hope. Treasury Secretary Scott Bessent talk say dem fit reduce rate by 50 basis points for September and that one make people ginger to take risk. Ether-focused ETFs get $520 million enter on Tuesday alone, and for the week dem fit pass $2 billion. Traders see say Ether short-term implied volatility dey rise compared to Bitcoin wey dey record low level, e show say near-term price fit go high well well. Big altcoins like Solana (SOL), BNB, XRP, Dogecoin (DOGE), and Cardano (ADA) still join the rally. This combination of political better chance, people hoping Fed go support and institutional ETF work dey give crypto better outlook.
Bullish
Positive political signals from former President Trump order to check crypto for 401(k) retirement plans, plus growing market expectations say Federal Reserve go cut rates don drive big gains for cryptocurrencies. Ether nearly jump 30% plus record ETF inflows show say institutional people get strong interest, while Bitcoin dey stable near all-time highs mean demand still strong. Historically, when Fed dem show dovish move plus news say people dey adopt crypto, e dey trigger bullish rallies like we see for past Fed easing period and when spot Bitcoin ETFs start. Short term, this kain catalyst fit make altcoin momentum quicken plus boost Bitcoin go new high. Long term, if crypto enter retirement plans, e represent big change wey fit make retail and institutional people join more, support strong bullish market journey.