CME Exchange Announces SOL Options Launch, Fueling Crypto Market Rally Post-Fed Cut

Bitcoin and other major cryptocurrencies have resumed their upward trajectory following the Federal Reserve's expected 25 basis point rate cut. The central bank's dovish stance, indicating potential further monetary easing, has injected fresh momentum into digital asset markets.

Bitcoin surpassed $117,900, reaching its highest level since mid-August and marking a decisive end to recent consolidation. The flagship cryptocurrency now shows a 1% daily gain as it continues recovering from September lows near $107,200.

Ethereum maintains a 2.7% advance but remains within a month-long trading range. Altcoins are outperforming, with Dogecoin, Solana, and BNB all posting gains exceeding 4%. XRP's 3% rally follows a technical breakout suggesting strengthening bullish momentum.

Solana's SOL token briefly touched $245 after CME Group revealed plans to launch SOL options in October. This derivatives product, viewed as a gateway for institutional participation, follows similar offerings for Bitcoin and Ethereum.