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CATEGORY: fed rate cuts


Sep 25, 2024 12:05

Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next?

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrencys performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Bitcoin Registers Sixth Green Daily Candle During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors alarms. The rest of the sector followed BTCs lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month. Since then, the market has seen a significant boost, mostly fueled by the US Federal Reserves (Fed) rate cut. Following the Feds announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend. Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report. BTC, propelled also by Kamala Harris recent acknowledgment of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrencys price toward the $64,000 resistance level, which was last held a month ago. After failing to reclaim the key resistance level, Bitcoins price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17. Will BTC See Four Green Months In A Row? BTCs recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD. This performance was noted by some market watchers, who suggest that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC is currently on track for the strongest September performance in its history after its current MTD return surpassed that of September 2016. To the analyst, the flagship cryptocurrency is preparing for a promising performance next quarter. Jelle also pointed out that BTC has only closed September with green numbers three times. However, the times this has happened, the cryptocurrencys monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4. Close this month in the green, and the odds are high October, November and December will close green as well. He pointed out that this week will be decision time for the flagship cryptocurrency, as a higher high is within an arms reach. A push above the $65,000 resistance level would flip the narrative and see BTC moving to levels not seen since early August. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why The cryptocurrencys chart displays a massive descending broadening wedge, which has the potential to hit $90,000 after a breakout. Ultimately, the analyst considers that Bitcoin wont trade within this pattern for much longer. As of this writing, the flagship trades at $63,700, a 1.7% and 10% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

Sep 25, 2024 02:15

Bitcoin (BTC) Faces Consolidation Despite Recent Surge Post Fed Rate Cuts


Bitcoin (BTC) rallied over 22% after the Feds rate cut, reaching $64,200. However, analysts predict potential consolidation due to market dynamics. (Read More)

Mar 30, 2023 05:50

World’s Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year

The world’s largest asset manager, Blackrock, does not see the Federal Reserve cutting interest rates this year. “That’s the old playbook when central banks would rush to rescue the economy as recession hit. Now they’re causing the recession to fight sticky inflation – and that makes rate cuts unlikely, in our view,” said the firm’s [...]

The post World’s Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year appeared first on Crypto Breaking News.

Mar 25, 2023 05:50

Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon

Billionaire Jeffrey Gundlach, aka the “Bond King,” has predicted that the Federal Reserve will be cutting interest rates substantially soon. “Red alert recession signals,” he added, noting that all U.S. Treasury yields two years and out are “well below the fed funds rate.” Doubleline CEO on Fed Rate Cuts and Recession Jeffrey Gundlach, chief executive [...]

The post Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon appeared first on Crypto Breaking News.

Aug 13, 2023 05:50

Peter Schiff Warns Investors of 2 ‘Huge Surprises’ — Foresees Inflation Too High for Fed Rate Cuts to Stimulate Economy

Economist Peter Schiff says investors are in for “two huge surprises.” Noting that the Federal Reserve has already lost its fight against inflation, he explained that by the time the U.S. economy officially enters a recession, inflation will be too high for the Fed to “stimulate” with interest rate cuts. Peter Schiff Sounds Alarm on [...]

The post Peter Schiff Warns Investors of 2 ‘Huge Surprises’ — Foresees Inflation Too High for Fed Rate Cuts to Stimulate Economy appeared first on Crypto Breaking News.

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