Bitcoin pops above $92K, but Ethereum still stuck under $3,300
Bitcoin is back above $92,000 after a 2.37% jump today, riding a wave of positive momentum.
Meanwhile, Ethereum is trading at $3,242.
All this comes as nearly $4.5 billion in Bitcoin and Ethereum options are set to expire—so things could get interesting.
Why does this matter?
Options expiring usually means more price swings ahead, but with put-call ratios for both coins pretty balanced (1.10 for BTC and 1.22 for ETH), traders aren't leaning too hard in either direction right now—which might help keep the market from getting too wild.
What's moving the market?
Layer 2 tokens are leading the charge with solid gains—Merlin Chain and Mantle both jumped over 4%, while Zcash spiked nearly 18%.
DeFi platforms are also on the rise thanks to Beldex's impressive 13% surge.
Any outside boost?
Yep—the US Federal Reserve just cut interest rates and plans to buy up $40 billion in Treasury securities every month.
That extra cash flowing into markets is giving crypto investors a bit more confidence after recent price drops.