Odaily星球日报讯 自从美联储上周三将联邦基金利率下调 50 个基点以来，以太坊的表现优于比特币，这种上涨势头与 ETH 未平仓利率加权永续期货资金利率的大幅上涨相吻合，表明对多头头寸的需求更强劲，并且交易者对 ETH 价格可能会上涨的乐观情绪日益增强。 不过，加密货币交易所 YouHodler 市场主管 Ruslan Lienkha 认为，虽然市场对以太币持乐观态度，但如果乐观情绪过度或外部因素发生变化，市场也存在回调风险。（TheBlock）

Odaily星球日报讯 自从美联储上周三将联邦基金利率下调 50 个基点以来，以太坊的表现优于比特币，这种上涨势头与 ETH 未平仓利率加权永续期货资金利率的大幅上涨相吻合，表明对多头头寸的需求更强劲，并且交易者对 ETH 价格可能会上涨的乐观情绪日益增强。不过，加密货币交易所 YouHodler 市场主管 Ruslan Lienkha 认为，虽然市场对以太币持乐观态度，但如果乐观情绪过度或外部因素发生变化，市场也存在回调风险。（TheBlock）

分析：美联储降息后ETH表现优于BTC，市场情绪看涨但存在回调风险

Since the Federal Reserve lowered the federal funds rate by 50 basis points last Wednesday, Ethereum's performance has outperformed Bitcoin, and this upward trend is consistent with a significant increase in the weighted average perpetual futures funding rate of ETH's open interest, indicating stronger demand for long positions, and traders' optimism about the potential for ETH price appreciation is growing. However, Ruslan Lienkha, market manager at the cryptocurrency exchange YouHodler, believes that while the market is optimistic about Ethereum, if the optimism is excessive or external factors change, the market also faces the risk of a pullback. (The Block)

Odaily Odaily News: Since the Federal Reserve cut the federal funds rate by 50 basis points last Wednesday, Ethereum has outperformed Bitcoin. This upward momentum coincides with the sharp rise in the ETH open interest weighted perpetual futures funding rate, indicating stronger demand for long positions and growing optimism among traders that ETH prices may rise. However, Ruslan Lienkha, market director of cryptocurrency exchange YouHodler, believes that although the market is optimistic about Ethereum, there is also a risk of a correction in the market if optimism is excessive or external factors change. (TheBlock)

Analysis: ETH outperforms BTC after Fed rate cut, market sentiment is bullish but there is a risk of a pullback

The day after the FOMC decision to cut interest rates, the Bank of Japan announced that it would maintain its interest rate policy unchanged. BTC continued to rise above $63,000, with an intraday gain of 2.33%, but was unable to break through the key resistance of $64,000. On the other hand, ETH's performance made it the protagonist of the day. After being criticized for its weak performance, a wave of buying in the afternoon pushed the price above the $2,500 mark.

SignalPlus Volatility Column (20240920): ETH stands up

Odaily Planet Daily Report: Bernstein analyst Gautam Chhugani stated that any signal of loose monetary policy and a potential weakening of the US dollar would be positive for Bitcoin. He pointed out that as of this year, Bitcoin has risen 45%, outpacing gold's 27% increase. At a fundraising event held in New York over the weekend, US Vice President Kamala Harris expressed support for digital assets and publicly mentioned the cryptocurrency industry for the first time. Previously, former US President Donald Trump also took a pro-crypto stance, advocating for a more friendly regulatory policy. Although the crypto community remains cautious about Harris' stance, Bernstein analyst believes that Harris' statement and Trump's support indicate that both parties have support, which may bring more regulatory clarity. The momentum of Bitcoin ETFs remains an important factor. Despite recent price volatility, Bitcoin ETFs have maintained net inflows, with cumulative inflows reaching $17 billion.

Bernstein: Any signal of loose monetary policy and potential weakening of the US dollar are good for Bitcoin

According to the Bitfinex Alpha report analysis, since the Federal Reserve's interest rate cut decision, Bitcoin has been on the rise, rising over 22% on September 20 (last Friday), reaching a new local high of $64,200, the highest since September 6. Although Bitcoin's upward trend is strong, it is still slightly lower than the critical high of $65,200 on August 25. BTC has been on a downward trend since March, and although the recent price increase has been positive, the concern is that the increase in BTC's open interest contracts has exceeded the price increase of BTC itself, indicating that the driving force behind most of the increase last week may have been the futures and perpetual contract market, rather than the spot market.

At the same time, the prices of some Altcoins have soared, with some well-known tokens rising more than 100% from their lows in August and September. However, similar caution is needed here, as Altcoin open interest has also hit new highs, while the broader underlying Altcoin market has not seen a corresponding price breakthrough. Other indices (measuring the performance of Altcoins excluding the top 10 tokens by market capitalization) have continued to decline over the past month. As the pace of spot market purchases of Bitcoin has slowed, the increase in cumulative spot trading volume has leveled off as the price reached $63,500, indicating that BTC is expected to fluctuate within a range in the short term. Without sustained spot buying, consolidation or partial retracement appears to be the most likely scenario.