Crypto markets extended gains on Wednesday as traders digested a mix of political tailwinds, dovish Fed expectations, and ongoing ETF inflows into ether (ETH).

Altcoins added to their rally during late Tuesday U.S. afternoon hours after Treasury Secretary Scott Bessent suggested the Federal Reserve should consider a 50 basis point rate cut at its upcoming September meeting.

Ether extended a strong week with gains of nearly 30%, nearing fresh highs that has historically preceded rotations and market frenzy in altcoins and microcap tokens. ETFs tied to the token registered $520 million in positive flows on Tuesday, data shows, on track to reach over $2 billion in weekly flows for the first time.

Bitcoin (BTC) remained steady just under $120,000. Solana’s SOL (SOL) surged 12% to $198, BNB

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