Ethereum Outperforms Bitcoin Following Federal Reserve Rate Cut

According to Odaily, since the Federal Reserve lowered the federal funds rate by 50 basis points last Wednesday, Ethereum has outperformed Bitcoin. This upward trend aligns with a significant increase in the weighted perpetual futures funding rate for ETH open interest, indicating stronger demand for long positions and growing trader optimism about a potential rise in ETH prices. However, Ruslan Lienkha, the market head at cryptocurrency exchange YouHodler, cautions that while the market sentiment towards Ethereum is optimistic, there is a risk of a market correction if the optimism becomes excessive or if external factors change.