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bitcoin (btc) regained the $65,000 level after a 2% rise in the past 24 hours, as the Shiba Inu-led meme coin market surged 17%.
bitcoin bitcoin/”>was shot to a 2-month high to trade at $65,485.14 at 2:34 am EST, raising the market capitalization of the flagship cryptocurrency to over $1.29 trillion. btc was boosted by inflows into spot bitcoin ETFs (exchange-traded funds) that rose to $365.7 million on September 26, the highest level since $486 million on July 22.
<img decoding="async" src="https://res.cloudinary.com/momentum-media-group-pty-ltd/image/upload/v1714710881/SMSF%20Adviser/bulletin-ops/bitcoin-ETF-smsfa_coygha.jpg” alt=”bitcoin ETF: riding the wave of success – SMSF Adviser”/>
Risk appetite in crypto markets returned after China boosted market sentiment earlier in the week with a stimulus package that included a rate cut. This followed a 50 basis point rate cut by the Federal Reserve on September 18, the first in more than four years.
QCP Capital said on September 25 that “the stars are aligning” for the global macro environment, with all major central banks except the Bank of Japan ready to inject liquidity into the global market to support growth.
“The macro space continues to look increasingly bullish for risk assets, including cryptocurrencies,” he said. “We know how explosive cryptocurrency prices can be, and with so many bullish catalysts, we believe the next bullish move will leave many people surprised and sidelined.”
Shiba Inu Leads Meme Coins Higher with 20% Pump
SHIB led the gains among the largest meme coins by market capitalization with a 17% increase in the last 24 hours, taking the price of the dog-themed token to $0.00001926.
Bonk (BONK) and FLOKI posted the second and third biggest gains, respectively. BONK pumped over 17%, while FLOKI price rose over 16%.
Pre-sale meme coins are also benefiting from the return of investor animal spirits. Layer 2 altcoin Pepe Unchained (PEPU) has raised over $15.5 million through its ICO, with over $1.5 million added last week alone.
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An incredible $15 million raised!
Get ready for the biggest release of this bull season! pic.twitter.com/EyDn4uzZ6z
— Pepe Unchained (@pepe_unchained) twitter.com/pepe_unchained/status/1838641240583344541?ref_src=twsrc%5Etfw”>September 24, 2024
crypto All-Stars is another pre-sale that is attracting attention, especially because it offers an annual return of 890%.
Related articles:
Most Wanted crypto Launch: Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured on Cointelegraph
- SolidProof and Coinsult audited
- Staking Rewards – pepeunchained.com
- Over $10 Million Raised in ICO – Ends Soon
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