Overview

• Bitcoin and major tokens advanced after the Federal Reserve’s 25 basis‑point rate cut, with BTC hovering near $117,000–$118,000 and ETH around $4,600.
• Roughly $9 billion in USDT and USDC moved to exchanges before the FOMC, and stablecoin supply on Ethereum reached a record ~$171 billion, reinforcing perceptions of fresh buying power.
• Derivatives positioning diverged, with falling BTC perpetual futures open interest alongside rising OI in altcoins such as BNB, AVAX and DOT, while options desks priced tail‑risk hedges.
• Key resistance and liquidity cluster between $118,000 and $120,000 has traders watching for either a breakout toward prior highs or a pullback toward ~$114,000, with some analysts warning of a late‑cycle phase.
• Distribution signals surfaced as Galaxy Digital transferred more than 800 BTC to major venues, and institutional access continues to evolve with SEC generic listing standards and CME’s planned SOL and XRP options on Oct. 13.