Uphold Market Commentary - Sep 18, 2025 Assets mentioned: $BTC, $ETH, $SOL, $XRP, $BNB, $CRV, $W, $M, $BRETT, $PENGU, $SPX, $ZBCN, $XLM Markets responded positively to the Fed’s 25bps rate cut, with both crypto and equities moving higher following Chair Powell’s dovish tone. Framing the decision as a “risk management cut,” Powell pointed to growing softness in the labour market, signalling a shift toward policy normalisation. While inflation remains on the Fed’s radar, updated projections now suggest up to 50bps in additional cuts by year-end, with the majority of officials leaning dovish. Combined with record highs in the stock market, the Fed’s stance has reinforced a risk-on environment across asset classes. In crypto, $BTC, $ETH, $SOL, and $XRP rose between 1.5% and 5.5%, mirroring strength in equities and benefitting from improving sentiment. Notably, this rally came despite modest outflows from spot BTC ($51 million) and ETH ($29 million) ETFs, the first redemptions since...
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