Bitcoin (BTC) surged 10% following a significant week, driven by a U.S. Federal Reserve rate cut of 50 basis points, bringing the rate to 5%, the first cut since 2020. BTC briefly crossed $64,000 in Asian trading, helped by the Bank of Japan's decision to hold rates. CoinGlass data showed a $5 billion increase in Bitcoin open interest during the FOMC meeting, fueling investor optimism.

Market analyst Michaël van de Poppe expects a bullish Q4, as institutions also show optimism. QCP Capital noted the US 2Y/10Y treasury spread steepened, signaling a shift toward risk-on assets.

The broader crypto market rose 2%, with layer-1 tokens and memecoins leading gains. Solana (SOL) and Ether (ETH) surged 7%, while SUI soared 10%. Baby Doge Coin increased 5%, but Neiro Ethereum fell 10%, staying bearish.