Bitcoin

FLOKI

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Popular meme coins PEPE, SHIB, FLOKI and BRETT were seen enjoying their time in the green as Bitcoin surged past the psychological threshold of $65,000, sparking hopes of an impending bull run. 
According to CoinGecko data Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) saw an impressive rally over the last 24 hours, rising from $63,680 to an intraday high of 65,743 before stabilizing at $65,328 at press time. 
The bellwether cryptocurrency still has to climb 11.2% to reach its all-time high of $73,737. This seems possible as Bitcoin has entered a technical bull market, having risen over 23% from its monthly low. 
<h2 class="wp-block-heading" id="the-bullish-case-for-bitcoin">The bullish case for Bitcoin</h2> 
Bitcoin has several potential catalysts for reaching new highs, with the primary driver being the U.S. Federal Reserve’s 50 basis point <a href="https://crypto.news/neiro-billy-baby-doge-coin-leads-as-fed-delivers-jumbo-rate-cut/" target="_blank">interest rate cut</a>, which generally benefits risk assets like Bitcoin. 
Moreover, a <a href="https://crypto.news/odds-of-bitcoin-price-soaring-to-a-new-all-time-high-are-rising-polymarket/" target="_blank">Polymarket poll</a> shows traders expect Bitcoin to reach a new high this year, with 66% of participants predicting the uptrend to continue. 
Complementing this, <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank">Bitcoin’s Fear Greed Index</a> has now risen to 61 from yesterday’s neutral of 50, indicating the market is now in a state of Greed, with traders more likely to buy. 
At the same time, data reveals that institutional funds are flowing into spot Bitcoin ETFs. According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank">SoSoValue</a>, over the last four days, spot ETFs saw inflows exceeding $600 million, raising the total to $18.31 billion. 
Bitcoin balances on exchanges have also hit a new low, suggesting that a large number of holders have transferred their coins to self-custody. As of Sept. 27, exchanges held<a href="https://www.coinglass.com/Balance" target="_blank"> 2.34 million Bitcoin</a>, down from the year-to-date peak of 2.7 million. 
 You might also like: <a rel="" href="https://crypto.news/bitcoin-price-retests-65k-thanks-to-whales-and-sharks/"> Bitcoin price retests $65k; thanks to whales and sharks </a> 
<h2 class="wp-block-heading" id="memecoins-take-off">Memecoins take off</h2> 
Amid the growing bullish sentiment around Bitcoin, popular memecoins experienced significant gains, with many surging by double digits. The overall market capitalization for memecoins shot up 16.5% to $54.9 billion in the past 24 hours. 
Ethereum-based memecoin Pepe (<a href="https://crypto.news/price/pepe/" target="_blank">PEPE</a>) jumped 16.7%, becoming the top gainer in the crypto market on Sept. 27 as its price rose to $0.0000104, back to levels last seen at the beginning of August. The meme coin’s daily trading volume saw a massive jump, hovering around $2.3 billion while its market cap stood at $4.37 billion. 
Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" target="_blank">SHIB</a>), Floki (<a href="https://crypto.news/price/floki/" target="_blank">FLOKI</a>), and Brett (<a href="https://crypto.news/price/brett/" target="_blank">BRETT</a>) also joined the memecoin rally, riding the wave with impressive gains of 16.3%, 15.4%, and 13.8%, respectively. 
When Bitcoin performs well, it boosts investor confidence and sparks greater interest in alternative coins, including memecoins. This can result in a positive cycle, where increasing prices attract more investors, further fueling price growth. 
 Read more: <a rel="" href="https://crypto.news/bitcoin-miner-northern-data-files-motion-to-dismiss-ex-directors-lawsuit/"> Bitcoin miner Northern Data files motion to dismiss ex-directors lawsuit </a>

PEPE, SHIB, FLOKI, and BRETT lead memecoin rally as BTC breaks $65K

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