Bitcoin, Ether Catch Friday Afternoon Bids, Rise to Three-Week Highs

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By Stephen Alpher Updated Sep 12, 2025, 7:52 p.m. Published Sep 12, 2025, 7:48 p.m. Bitcoin and ether catch bids Friday (Midjourney/Modified by CoinDesk) What to know : Bitcoin and ether each rose to roughly three-week highs in late afternoon U.S. trading Friday. The two largest cryptos had been struggling for attention as capital instead has been flowing into altcoins like SOL and DOGE. The big upside action in major cryptos of late has been in altcoins such as solana SOL $ 239.86 and dogecoin DOGE $ 0.2711 , with SOL sporting a 17% gain over the past seven days and DOGE a 25% advance. Among the bullish arguments are coming ETFs and newly-formed crypto treasury companies focusing on those two tokens. Mostly forgotten as investor capital moved elsewhere were the two largest cryptos, but both are catching bids late in the U.S. trading day on Friday. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Bitcoin BTC $ 116,080.69 is now ahead 2% over the past two hours to $116,600 and ether (ETH) is up 5% to $4,650. Both prices are the highest since the wild action in the third week in August that followed Federal Reserve Chairman Jerome Powell's Jackson Hole speech. In that speech, Powell unexpectedly flipped from staunch monetary policy hawk to dove, saying the weakening labor market deserved more attention than the stubbornly high inflation rate. Interest rate traders reacted quickly, sending odds of a September rate cut from somewhat possible to a sure thing, with only the size — 25 basis points or 50 — left for debate. In the hours following Powell, bitcoin flew from about $112,000 to more than $117,000 but that paled in comparison to the action in ether. Below $4,300 ahead of the speech, ETH soared more than 16% in less than 48 hours, nearly cracking $5,000 for the first time ever. Within hours after that, though, the bull move fell apart, and more, with ETH sliding all the way to about its pre-speech price and bitcoin tumbling all the way down to $107,000 by the end of August. Next week finally brings the much talked about Fed meeting, and traders universally expect the U.S. central bank to trim its benchmark fed funds rate by 25 basis points to 4%-$4.25%. Bitcoin Ether More For You Polymarket Weighs $9B Valuation Amid User Surge and CFTC Approval: The Information By Helene Braun , AI Boost | Edited by Stephen Alpher 27 minutes ago That would be a massive jump as the betting platform raised funds at just a $1 billion valuation just back in June. What to know : Polymarket considered a $9 billion valuation in a potential deal, sources told The Information. The CFTC recently cleared Polymarket to operate in the U.S. after a prior ban. Rival Kalshi’s valuation has also grown to $5 billion, according to report, highlighting momentum in prediction markets. Read full story Latest Crypto News Polymarket Weighs $9B Valuation Amid User Surge and CFTC Approval: The Information 27 minutes ago Gemini Stock Jumps 45% in Early Trades After IPO 2 hours ago SOL Rallies as Novogratz Calls Solana ‘Tailor-Made’ for Financial Markets, Analyst Sees $1,314 Target 3 hours ago Tether Unveils USAT Stablecoin for U.S. Market, Names Bo Hines to Lead New Division 4 hours ago Institutional Bets Drive HBAR Higher Amid ETF Hopes 5 hours ago XLM Holds Ground Amid Market Volatility as Payment-Sector Rivalry Heats Up 5 hours ago Top Stories Polymarket Weighs $9B Valuation Amid User Surge and CFTC Approval: The Information 27 minutes ago Gemini Stock Jumps 45% in Early Trades After IPO 2 hours ago Tether Unveils USAT Stablecoin for U.S. Market, Names Bo Hines to Lead New Division 4 hours ago Traders Load Up on Nine-Figure Bullish Bitcoin Bets, Raising Liquidation Risks 6 hours ago Father of Crypto Bills, French Hill, Says Market Structure Effort Should Tweak GENIUS 6 hours ago Solana Surges as Galaxy Scoops Up Over $700M Tokens From Exchanges 7 hours ago In this article DOGE DOGE $ 0.2711 ◢ 8.27 % BTC BTC $ 116,080.69 ◢ 1.45 % About About Us Masthead Careers CoinDesk News Crypto API Documentation Blog Contact Contact Us Accessibility Advertise Sitemap System Status Disclosure & Polices CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. 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