Avalanche rises 19%, market pullback

The cryptocurrency market remains sluggish despite the Fed's interest rate cut, with Bitcoin struggling around $117,000, and most assets trading lower. However, Avalanche (AVAX) rose against the trend, up 5.1% in 24 hours, 19.7% weekly, 38.9% in 14 days and 51.3% monthly. Key drivers include Bitwise’s AVAX ETF filing with the U.S. Securities and Exchange Commission (SEC), the plan to issue two $1 billion U.S. Treasury bond purchases AVAX tokens, and the Federal Reserve’s interest rate cuts boosted risk appetite. CoinCodex predicts that AVAX may rise to $41.48, or 20.13%, and will see a pullback afterward.