Crypto Market Update: Fed Cuts Rates, Bitcoin Price Reacts

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$115,680, a 1 percent decrease in 24 hours. Its lowest valuation of the day was US$114,940, and its highest was US$116,225.

Bitcoin price performance, September 17, 2025.

Chart via TradingView.

The crypto markets showed immediate volatility following the US Federal Reserve’s interest rate decision, which was a widely anticipated 25 basis points, lowering the target range to 4 to 4.25 percent.

Bitcoin initially rose slightly above US$116,000, but then dropped below US$115,000 as traders digested Fed Chair Jerome Powell’s remarks. He noted that inflation risks are currently tilted to the upside, while employment risks are to the downside, posing a challenging situation for policy balance.

Ether (ETH) hovered near US$4,500, showing cautious optimism from investors against the macro backdrop. The coin was priced at US$4,519.07 at the closing bell, its highest valuation of the day and an increase of 0.6 percent over the past 24 hours. Its lowest valuation on Wednesday was US$4,440.

Crypto derivatives analytics and market indicators

Total Bitcoin futures open interest was at 727.55K BTC, equivalent to US$84.19 billion, up by 1.15 percent over four hours and 0.04 percent over 24 hours. The perpetual funding rate for BTC was at 0.0057 percent, while the ETH funding rate stood at 0.0041 percent, indicating bullish market sentiment.

Liquidations reached US$143.67 million over the past four hours, with long positions representing the majority, signaling strong selling pressure that could push prices down.

BTC dominance stands at 55.8 percent.

ETF data

Institutional Bitcoin demand is now outpacing new issuance. Bitwise data shows that US spot Bitcoin exchange-traded fund (ETF) inflows far exceed new Bitcoin supply. Monday’s (September 15) Bitcoin ETF inflows were about US$260 million versus ETH’s US$360 million, followed by an uptick to US$292 million on Tuesday (September 16).

This seven day inflow streak (US$2.9 billion) is the largest since July, pushing total Bitcoin ETF assets to US$151.7 billion, or around 6.6 percent of Bitcoin’s market cap. Data shows that 97 percent of this surge came from US spot funds, pushing their combined holdings to a record 1.32 million BTC.

Fear and Greed Index snapshot

Sentiment gauges have cooled from recent highs.

CMC’s Crypto Fear & Greed Index currently stands around 51 (neutral), down from “greed” levels last week.

The neutral reading, which is up only slightly from 49 last week, shows that while neither bullish nor bearish sentiment is dominant, investors are still cautiously optimistic, buoyed by ETF inflows.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Altcoin price update

Altcoins continued to show strength midweek, with many outperforming Bitcoin.

• Solana (SOL) was priced at US$238.66, an increase of 0.4 percent over the last 24 hours and its highest valuation of the day. Its lowest valuation on Wednesday was US$232.78.

• XRP was trading for US$3.04, down by 0.4 percent in the past 24 hours. Its lowest valuation of the day was US$2.99, and its highest value was US$3.06.

• SUI (Sui) was valued at US$3.68, trading at its highest valuation of the day and up by 1.3 percent over the past 24 hours. Its lowest price point on Wednesday was US$3.54.

• Cardano (ADA) was priced at US$0.8832, up by 1.3 percent over 24 hours to its highest value of the day. Its lowest valuation was US$0.8634.

Today’s crypto news to know

Bitcoin ETF inflows surge to highest level since July

Bitcoin exchange-traded products drew their largest weekly inflows since late July, according to K33 Research, as institutional investors piled back into the market.

Net inflows totaled 20,685 BTC, pushing combined holdings of US spot ETFs to a record 1.32 million BTC.

Analysts say the fresh demand is outpacing new supply nearly nine times over, creating strong upward pressure for prices. Bitwise notes that this reallocation is coming at the expense of Ethereum, with capital flowing back into Bitcoin after months of mixed positioning. ETF inflows have become a critical driver of performance, with Bitwise data showing an unprecedented correlation between flows and price action.

With more than 22,000 BTC accumulated via funds in the last month, compared with just 14,000 newly mined, analysts see this as a bullish signal for the final quarter of the year.

Forward Industries files for US$4 billion ATM equity offering

Forward Industries (NASDAQ:FORD), a prominent Solana treasury company, has filed with the US Securities and Exchange Commission to establish an at-the-market (ATM) equity offering program.

This initiative, announced on Wednesday, will be facilitated by Cantor Fitzgerald and will enable the company to incrementally sell up to US$4 billion of its common stock on the open market.

The company said it plans to use the net proceeds for general corporate purposes, including working capital, as well as for its Solana token strategy and acquiring income-generating assets.

Kyle Samani, chairman of the board, said the offering provides a flexible mechanism to deploy capital for the company’s Solana treasury strategy, scale its position, strengthen its balance sheet and pursue growth initiatives.

Google, Coinbase partner for stablecoin payments in AI protocol

Google (NASDAQ:GOOGL) and Coinbase Global (NASDAQ:COIN) have joined forces to integrate stablecoin payments into AP2, a new open-source artificial intelligence (AI) payments protocol.

Developed in collaboration with Coinbase, Google’s AP2 enables AI applications and agents to autonomously send and receive payments using both traditional methods and stablecoins. The AP2 system aims to establish a universal, secure, compliant and flexible payment language for both legacy financial rails and emerging digital assets.

Ultimately, this will enable AI agents to conduct financial transactions without human intervention in applications like personal shopping or financial advising, a significant step toward an AI economy powered by digital payments.

The initiative extends beyond Google and Coinbase, including the Ethereum Foundation and over 60 other companies from both the crypto and traditional finance sectors, such as Salesforce (NYSE:CRM), American Express (NYSE:AXP) and Etsy (NASDAQ:ETSY). The partnership ensures the payment infrastructure supports stablecoins and integrates with Coinbase’s existing AI-driven crypto payment system, positioning Coinbase centrally in Google’s efforts to merge AI with digital money, capitalizing on the growing adoption and interest in stablecoins.

Bullish secures New York BitLicense

Bullish has secured a BitLicense from the New York State Department of Financial Services, a key regulatory approval that will allow the company’s US entity to legally provide cryptocurrency spot trading and custody services to institutional clients and advanced traders in New York State. Bullish believes this regulatory milestone in New York, a major financial hub, is critical for its full-scale launch and expansion in the US market. The company is one of a handful of crypto firms licensed under this rigorous state framework, joining firms like Gemini and Paxos.

The BitLicense will enable Bullish to offer regulated, institutional-grade digital asset services in New York, increasing access for hedge funds, asset managers, banks and other institutional players.

CEO Tom Farley emphasized the firm’s commitment to regulatory compliance and building trusted infrastructure. President Chris Tyrer said clear regulation drives responsible market evolution and institutional engagement.

Metaplanet expands to US with new Bitcoin income unit

Metaplanet (TSE:3350,OTCQX:MTPLF) has established a Miami-based subsidiary to oversee its Bitcoin income-generation business, following the closing of a US$1.44 billion global equity sale earlier this month.

The new arm, Metaplanet Income, received an initial US$15 million capital injection and will focus on derivatives trading and related yield strategies separate from the company’s core treasury holdings.

Upsized from an original plan of 180 million shares to 385 million due to strong demand, the offering raised 212.9 billion yen in gross proceeds. Funds are earmarked for further Bitcoin purchases through October, as well as expansion of income products that have generated steady revenue since late 2024. Management says the new US subsidiary will not materially affect 2025 earnings, but strengthens its long-term operational footprint.

Saudi Arabia doubles down on digital payments with Google and Ant

Saudi Arabia is accelerating its financial technology ambitions through new partnerships with Google Pay and Ant International, its central bank confirmed at the Money20/20 conference in Riyadh.

Google Pay will now integrate with the country’s mada network, allowing cardholders to manage payments through Google Wallet. Meanwhile, a collaboration with Ant International aims to enable cross-border QR code payments linking mada with Alipay+ by 2026. The push is expected to benefit small and mid-sized merchants.