Crypto markets rebound as DeFi and layer-2 tokens surge after Fed hike
Crypto markets bounce back as post-Fed nerves ease
Cryptocurrencies rose across the board on Friday, led by tokens tied to decentralized finance (DeFi) — financial services built on blockchains without banks — and layer-2 networks, which are faster and cheaper systems built on top of Ethereum. The advance came as the anxiety that followed the U.S. Federal Reserve's latest interest-rate hike faded.
Bitcoin climbed above $78,000 during the European morning, up 2.1% since midnight UTC and 1.9% over 24 hours, CoinDesk reported. The bounce was broad: all but two of the 100 tokens in the CoinDesk 100 index were higher on the day.
The report described the shift as a rotation away from the privacy and haven assets that led Thursday's gains, and back toward riskier tokens — a pattern traders usually read as a return of risk appetite.
The numbers behind the move
- Starknet (STRK) rose 18%, Arbitrum (ARB) gained 17% and Uniswap (UNI) added 13%.
- The DeFi Select Index (DFX) jumped 8.3% since midnight UTC and 16% over 24 hours.
- The 10-year U.S. Treasury yield slipped back below 5%, and Brent crude fell under $103 after trading as high as $109 earlier in the week.
- S&P 500 futures rose 0.3% and Nasdaq 100 futures rose 0.6%; gold added 1.1% and silver 2.8%.
- Bitcoin stayed about 5% below its Sept. 4 monthly high of $82,284 after two weeks of range-bound trading.
What the CoinDesk report says
CoinDesk attributed the gains to a calmer macroeconomic picture, with lower bond yields and cheaper oil taking the heat out of the inflation scare that followed the rate increase.
The report also linked the renewed appetite for major DeFi tokens to growing market optimism about friendlier, coordinated crypto regulation from the SEC and CFTC. This is CoinDesk's reading of market sentiment, not an official statement from either agency.
Futures markets signal steadier inflows
The derivatives market pointed to a more structural inflow of capital rather than aggressive momentum trading, according to the report. Open interest — the total value of futures contracts, which are agreements to buy or sell an asset at a set price later, that have not yet been settled — expanded nearly 5% to $141.2 billion, while daily trading volume dipped 3% to $95 billion.
- Bitcoin futures open interest ticked up to 680,000 BTC from 670,000 BTC since midnight UTC, a move usually read as a build-up of bullish positions. The total remains well below this year's peak of 800,000 BTC, meaning overall positioning is still light.
- On Binance, the top-trader long-short accounts ratio eased to 1.52 from Wednesday's high of nearly 2, while the long-short positions ratio stayed elevated at 2.36. CoinDesk read this as fewer large holders, known as whales, leaning long, but with larger bet sizes — a sign of institutional conviction.
- Open interest in Uniswap's UNI futures surged to 86.61 million tokens, close to an all-time high, up from 76.89 million a day earlier, alongside a 30% jump in UNI's spot price.
- A 24-hour measure of whether buyers or sellers were more aggressive was positive for most major tokens, except GRAM, SHIB, HBAR and BNB.
What is confirmed
The figures above were reported by CoinDesk for the European morning of Sept. 18, 2026. The price moves, index levels and derivatives data come from that single market report, and no second source was supplied to independently verify them.
What is still unclear
The supplied version of the article is incomplete. It ends mid-sentence while discussing a drop in implied volatility to May's lows and upcoming events including a Clarity Act vote and decisions from the Federal Reserve and the Bank of Japan — so no details from that final section can be confirmed.
Beyond that, whether the return to risk-on trading continues beyond Friday is not addressed in the supplied material, and the reported link between the DeFi rally and expected U.S. regulatory changes remains an interpretation of market mood rather than a confirmed cause.
Why this matters for crypto investors
After two weeks of flat trading and a post-rate-hike scare, Friday's broad advance suggested improving sentiment. The leadership of DeFi and layer-2 tokens, rather than the privacy and haven assets that led the day before, marked a shift toward greater risk appetite, while the futures data showed capital entering the market in a measured way instead of through rapid momentum buying.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.