In anticipation of interest rate cuts by the US Federal Reserve next week, the crypto market is gradually gaining momentum. The total market capitalization is up 1.6 percent daily to over $4.1 trillion.

While the altcoin sector is experiencing some strong price increases, Bitcoin currently appears comparatively sluggish. The leading cryptocurrency is up 1.2 percent daily, trading at $115,000.

Ethereum is making somewhat more significant gains. The second-largest cryptocurrency is up three percent, just over $4,500. The ETH price is still around nine percent away from a new all-time high.

With a rise above the $900 mark, the BNB price has once again achieved this milestone. Binance Coin only needed a daily gain of 1.5 percent to set a new record high of $909. This also brings it a good deal closer to the $1,000 mark.

Solana is the top performer among the ten largest cryptocurrencies, with an increase of around eight percent in the past 24 hours.

A few days before a possible interest rate cut by the Federal Reserve, investors are apparently gaining courage. You can find out what the impact on the crypto market could be here: How the Fed’s interest rate hike will affect the crypto market.

The timing seems interesting: As indicators indicate, the altcoin season officially began yesterday.

“The long-term chart for altcoins is very bullish,” comments crypto analyst Ted on X. “In the short term, altcoins could be rejected from their resistance levels, which would provide better entry opportunities. However, in the long term, altcoins will rise significantly higher,” he says.