The cryptocurrency market fell marginally over the past 24 hours, reflecting a cautious outlook as investors wait for the conclusion of the FOMC meeting, which begins today. The cautious sentiment can be gauged by Bitcoin’s (BTC) price action. The flagship cryptocurrency traded above $115,000 over the weekend and briefly crossed $116,000 on Monday. However, it failed to stay above this level and ultimately settled at $115,381. The current session sees BTC up almost 1% during the ongoing session, trading around $115,603.
Meanwhile, Ethereum (ETH) maintained its position above $4,500 despite a brief drop to $4,471. It reclaimed $4,500 and is currently trading around $4,520, marginally down over the past 24 hours. Ripple (XRP) is up over 2%, trading around $3.03, while Solana (SOL) is up 1.25%, trading around $236. Meanwhile, Dogecoin (DOGE) is down nearly 1%, while Cardano (ADA) is up 1.52%, trading around $0.870. Chainlink (LINK) is up 1.26%, trading around $23.64, while Stellar (XLM) is up almost 3%, trading around $0.387. Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial increases over the past 24 hours.
Standard Chartered Launches $250M Digital Asset Fund
Standard Chartered’s venture arm, SC Ventures, is planning to launch a dedicated $250 million fund to invest in digital assets. The launch highlights growing institutional interest in digital assets, including Bitcoin (BTC), blockchain, and infrastructure. The fund is expected to debut in 2026 and reflects the growing demand for digital assets. The fund will deploy capital globally, focusing on financial services and sectors like tokenization, blockchain technology, and regulated digital assets.
The move is part of Standard Chartered’s growing focus on digital assets. The bank is the first global systematically important institution to launch deliverable spot Bitcoin (BTC) and Ethereum (ETH) trading from its UK offices. It has also launched tokenization efforts through its blockchain platform, Libeara.
Gemini, SEC Reach Settlement In Earn Lawsuit
Gemini has reportedly struck a deal with the United States Securities and Exchange Commission (SEC) over the Earn program. The agreement marks the end of a high-profile lawsuit and comes after Genesis’ bankruptcy, which froze $900 million in customer assets. According to a recent court filing, lawyers for the SEC and Gemini, now operating as Gemini Space Station, disclosed they reached an agreement “in principle” to resolve the lawsuit. The filing urged US District Judge Edgardo Ramos to pause all deadlines until December 15, while parties finalize paperwork.
Gemini’s Earn program allowed customers to lend their Bitcoin (BTC) and other assets to Genesis Global Capital and earn interest. The program attracted thousands of users, allowing Gemini to collect fees of up to 4.29%. However, the program ran into trouble in November 2022 when Genesis froze withdrawals following the collapse of FTX. Genesis filed for bankruptcy in January 2023, leaving $900 million in customer assets stranded. The SEC sued Genesis and Gemini in the same month, alleging the firms sidestepped disclosure rules to protect investors. Genesis paid a $21 million penalty to settle without admitting wrongdoing. However, Gemini contested the allegations. The agreement ends the impasse between Gemini and the SEC, although final terms are subject to SEC approval.
Lawmakers Tap Saylor To Advance Bitcoin Reserve Bill
US Lawmakers are meeting with several crypto industry executives, including Strategy executive chairman Michael Saylor, to discuss how Congress can move forward with the Strategic Bitcoin Reserve. The list of executives also includes Fundstrat CEO Tom Lee, Chairman of BitMine, and MARA CEO Fred Thiel. Industry executives will hold discussions with lawmakers and look to build momentum behind the BITCOIN Act, introduced by US Senator Cynthia Lummis in March. The bill calls on the US government to acquire 1 million BTC over five years.
Strategy Announces Latest Bitcoin (BTC) Purchase
Strategy has announced its latest Bitcoin purchase, acquiring 525 BTC for $60.2 million. The purchase was made for $114,562 per coin. The latest purchase takes Strategy’s Bitcoin holdings to 638,985 BTC, valued at over $73 billion. Strategy embarked on its accumulation strategy in August 2020 with an initial investment of $250 million. Since that first investment, Strategy has announced significant buys and has become the largest corporate holder of BTC.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is marginally down during the ongoing session, as markets remain cautiously optimistic. Investors and market watchers expect positive news as the FOMC meeting begins, with markets already pricing in a 0.25bps rate cut. The flagship cryptocurrency stalled around $116,000 over the weekend as an OG Bitcoin whale began selling his holdings after a brief pause. As a result, BTC fell marginally on Saturday before dropping 0.56% on Sunday and settling at $115,314. The price faced volatility on Monday before registering a marginal increase and settling at $115,381. According to the co-founder of Unocoin, markets are cautiously optimistic.
“Bitcoin is currently hovering around $115,350, reflecting cautious optimism in the crypto market. BTC is trading in a symmetrical triangle pattern, suggesting a larger move is coming. A breakout above $120K could push toward $130,000, while a breakdown risks a fall to $105,000. Overall, Bitcoin is poised, not passive—waiting for a catalyst to define its next trend.”
According to analysts, the Federal Open Market Committee (FOMC) meeting and the expectation of interest rate cuts on Wednesday could boost markets. However, BTC is undergoing a mild correction. The flagship cryptocurrency fell to an intraday low of $114,395 on Monday, and analysts believe current price action presents a good buying opportunity.
From a technical point of view, BTC’s critical retest zone is between $111,000 and $113,000, mirroring the price structure seen in Q2, when the price rallied from below $100,000 to $109,000, consolidating just before resistance levels. A similar pattern could develop if BTC stays above $113,000. A drop below this level could weaken the bullish case, while stability could indicate another breakout. One analyst noted,
“The combination of a technical structure shift and miner accumulation provides a constructive outlook. As long as $112K holds, Bitcoin appears well-positioned to sustain momentum.”
BTC faced volatility over the past weekend as it reached an intraday high of $113,390 on Friday (September 5). However, it failed to stay at this level and settled at $110,670, ultimately registering a marginal decline. Sellers retained control on Saturday as the price fell 0.41%. BTC recovered on Sunday, rising nearly 1% to end the weekend at $111,129. The price continued pushing higher on Monday, rising 0.85% to cross $112,000 and settle at $112,072. However, it lost momentum on Tuesday, dropping 0.47% to $111,547. Positive sentiment returned on Wednesday as BTC rallied, rising over 2% to cross $113,000 and settle at $113,983.
Source: TradingView
Buyers retained control on Thursday as BTC rose 1.37%, crossing $115,000 and settling at $115,540. The price continued pushing higher on Friday, rising 0.49% to cross $116,000 and settle at $116,106. Despite the positive sentiment, price action turned negative over the weekend as BTC registered a marginal decline on Saturday and fell 0.56% on Sunday, ending the day at $115,314. BTC faced volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase. The current session sees BTC marginally down, trading around $115,362.
Ethereum (ETH) Price Analysis
Ethereum (ETH) has continued declining, extending its losses for a fourth consecutive day. The altcoin has struggled to regain momentum after Friday’s intraday high of $4,747. Price action was bearish over the weekend as ETH fell 1.10% on Saturday and 1.25% on Sunday, settling at $4,609. Sellers retained control on Monday as the price fell nearly 2% to $4,527. ETH is marginally down during the ongoing session, trading just above the $4,500 mark.
Market experts expect a recovery if the Federal Reserve moves ahead with its anticipated rate cut this week. Tom Lee, Chairman of Ethereum treasury company BitMine, believes ETH and BTC could be on the verge of a dramatic rally should the rate cut go ahead as planned. Lee stated that digital assets like ETH are sensitive to liquidity when central banks ease policy, highlighting examples from September 1998 and September 2024. The BitMine chairman predicts a monster move for BTC and ETH as policymakers are ready to lower interest rates.
The Fed began its two-day policy meeting today, with a decision scheduled for 2 pm ET on Wednesday. Markets expect a 25 basis point rate cut, lowering the rate to 4%-4.25%.
Meanwhile, analysts at CryptoQuant believe ETH could be heading for its strongest cycle yet. CryptoQuant analysts cited growing institutional demand, the rise of Ethereum treasury companies, and ETFs as primary drivers.
“This synchronized accumulation indicates that Ethereum is increasingly viewed as a long-term strategic asset by large capital allocators, similar to Bitcoin’s trajectory post-ETF approval. This level of institutional endorsement provides a robust long-term tailwind for Ethereum’s price and perceived legitimacy.”
ETH reached an intraday high of $4,493 on Friday (September 5). However, it could not stay at this level and settled at $4,307, ultimately registering a marginal increase. The price registered a marginal drop on Saturday before rising 0.74% on Sunday and settling at $4,306. ETH was muted on Monday and Tuesday as price action remained subdued. However, positive sentiment returned on Wednesday as the price reached an intraday high of $4,487 before settling at $4,348, ultimately rising 0.89%.
Source: TradingView
Buyers retained control on Thursday as ETH rose 2.57% and settled at $4,460. Bullish sentiment intensified on Friday as the price rallied, rising nearly 6% to cross $4,700 and settle at $4,315. However, it lost momentum over the weekend, dropping 1.01% on Saturday and 1.25% on Sunday to settle at $4,609. Sellers retained control on Monday as ETH fell nearly 2% and settled at $4,527. The current session sees the price marginally down, trading around $4,505.
Solana (SOL) Price Analysis
Solana (SOL) has recovered during the ongoing session, with the price marginally up, trading around $235. The altcoin reached an intraday high of $249 on Sunday. However, it failed to breach $250 and settled at $240, falling nearly 1%. Selling pressure intensified on Monday as the price fell 2.34%. The current session sees SOL trading around $235.
Meanwhile, in another testament to the burgeoning institutional interest in SOL, Pantera Capital CEO Dan Morehead revealed the company has invested most of its funds into the altcoin. Pantera Capital now holds $1.1 billion in SOL. Morehead called Solana the “fastest, cheapest, and most performing out of all blockchains, including Ethereum (ETH) and Bitcoin (BTC). Morehead also revealed that SOL is Pantera’s biggest bet, stating,
“Our biggest position is Solana. We’ve had huge positions in Ethereum in the past. We used to be 100% Bitcoin. Something could come out tomorrow.”
Morehead highlighted Solana’s performance as a blockchain and its stunning growth over the past few years.
“Well, Solana could do, I think, 9 billion transactions a day, which is more than all capital markets combined. So it’s obviously going to be the next thing after Solana.”
SOL started the previous weekend in positive territory, rising 0.48% and settling at $203 on Friday. The altcoin fell 1.55% on Saturday but recovered on Sunday, rising over 3% to end the weekend at $206. Buyers retained control on Monday as the price rose 3.69% to $214. SOL continued pushing higher on Tuesday, rising 1.48% and settling at $217. Positive sentiment persisted on Wednesday as the price rose over 3% to cross $220 and settle at $223.
Source: TradingView
SOL rose over 2% on Thursday and settled at $228. Bullish sentiment intensified on Friday as the price rallied, rising nearly 6% to cross $240 and settle at $242. SOL faced selling pressure on Saturday, falling to an intraday low of $236. However, it rallied from this level to reclaim $240, ultimately registering a marginal increase. SOL reached an intraday high of $249 on Sunday but lost momentum after failing to cross $250. As a result, it fell nearly 1% to $240. Sellers retained control on Monday as SOL fell over 2% and settled at $234. The current session sees the price marginally up, trading around $235.
Internet Computer (ICP) Price Analysis
Internet Computer (ICP) started the previous week in positive territory, rising 1.45% to $4.90. The price surged to an intraday high of $5.05 on Tuesday as bullish sentiment intensified. However, it could not stay at this level and fell 0.82% to $4.86. ICP recovered on Wednesday, rising 0.62% to $4.89. Bullish sentiment intensified on Thursday as the price rallied, rising almost 2% and settling at $4.98.
Source: TradingView
ICP fell to an intraday low of $4.83 on Friday as selling pressure intensified. However, it rebounded from this level to settle at $4.98. The price pushed higher on Friday, reaching an intraday high of $5.07. It lost momentum after reaching this level and settled at $5.06, ultimately rising 1.61%. Selling pressure returned on Sunday as the price fell nearly 4%, slipping below $5 and settling at $4.86. Bearish sentiment intensified on Monday as ICP fell over 4% to $4.66. The current session sees ICP up over 1%, trading around $4.71.
Cosmos (ATOM) Price Analysis
Cosmos (ATOM) started the previous week in positive territory, rising 1.34% and settling at $4.53. It faced volatility on Tuesday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price rose 1.01% to $4.58. Buyers retained control on Wednesday as ATOM rose nearly 2% and settled at $4.67. It fell to an intraday low of $4.60 on Thursday as selling pressure intensified. However, it rebounded from this level and settled at $4.68, ultimately registering a marginal increase.
Source: TradingView
ATOM fell to an intraday low of $4.60 on Friday as selling pressure intensified. However, it rebounded from this level to settle at $4.75, ultimately rising 1.54%. The price continued pushing higher on Sunday, increasing 1.58% and settling at $4.84. Selling pressure returned on Sunday as ATOM fell over 4% to $4.63. Sellers retained control on Monday as the price fell 2.69% and settled at $4.51. The current session sees ATOM down nearly 1%, trading around $4.46.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.