Ethereum (ETH) price jumped over 4% on Wednesday to reach a range high of about $4,481. The large-cap altcoin, with a fully diluted valuation of about $540 billion, led the wider altcoin market in a mild rebound during the mid-North American session.
As a result of today’s Ethereum price pump, the Altcoin Season Index from CoinGlass jumped to the highest level year-to-date of about 63%. Meanwhile, the ETH/BTC pair has gradually rebounded to signal the onset of 2025 altseason.
The ETH price has significantly benefited from the rising odds of a Fed rate cut on September 17. Furthermore, expected Fed rate cuts in the coming months will increase the demand for risky perceived assets, led by altcoins.
According to data from Polymarket, the odds of a 25 bps Fed rate cut on September 17 surged to 86%, the highest level since the beginning of 2025. Polymarket traders are predicting a 10% chance that the Fed will leave its benchmark interest rate unchanged this month.
According to market data from Kalshi, the odds of a 25bps Fed rate cut in September surged to a new all-time high of 85% today. Kalshi traders are predicting a 10% chance that the Federal Reserve will leave its benchmark interest rate unchanged later this month.
The upcoming Fed rate decision is expected to be a major turning point for the crypto bull market. Meanwhile, Federal Reserve Governor Christopher J. Waller said on Wednesday during an interview that multiple interest rate cuts over the next 3–6 months are possible.
Crypto analyst Benjamin Cowen has predicted that Ethereum price will drop below $4k in the coming days before rebounding to a new all-time high soon.
However, the midterm bearish sentiment will be invalidated if the altcoin consistently closes above $5k in the coming weeks.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
XRP price rollercoaster over the past few months has left investors divided, some walking away…
The crypto market is witnessing a steep decline today, with total market capitalisation slipping below…
Bitcoin’s recent price action has turned sharply bearish after the price fell below the $110,000…
In the fast-evolving world of cryptocurrency, few projects are turning heads like Ozak AI ($OZ).…
Ozak AI is rapidly becoming one of the most watched early-stage tokens of the 2025…
BlackRock, the asset management giant, is stepping up its game in the crypto space. With…
