Crypto markets surged broadly over the past 24 hours, buoyed by rising expectations of an 85% chance of a Federal Reserve rate cut. PayFi names led the rally with a 9% jump, while XRP spiked 11% and ETH broke above $2,900. Bitcoin climbed 1.67% to reclaim $87,000, with sector-wide gains seen across Meme, DeFi, Layer 1, CeFi, and Layer 2 tokens. Glassnode noted that although BTC recently slipped below $90,000 to test $80,000, momentum indicators remain oversold, but early signs of recovery are beginning to emerge amid continued risk reduction across derivatives and spot flows.
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