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Bitcoin (BTC) rallied over 22% after the Feds rate cut, reaching $64,200. However, analysts predict potential consolidation due to market dynamics. (Read More)
Bitcoin rallied strongly after the previous two stimulus package announcements by the People's Bank of China.
Digital asset investment products posted a second consecutive week of inflows last week, totaling $321 million, CoinShares reported.
Bitcoin must overcome resistance in the $64,000 to $66,000 zone before a new set of growth catalysts initiate the path to six-figure BTC price territory.
The Federal Reserve has finally delivered the long-anticipated rate cuts traders wanted, marking the first cut since the pandemic’s onset 4.5 years ago. Immediate responses were swift and strong, with both the cryptocurrency and stock markets initially reacting in positive ways. Impact on Traditional Markets and Cryptocurrency Santiment report points out is that immediately after […]
CoinShares expects that crypto investment products will become increasingly sensitive to interest rate expectations in September.
Bitcoin price action may have to diverge from stocks if history repeats itself after a bumper Fed rate cut, analysis warns.
Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.
The Fed is expected to deliver its first interest rate cut since the pandemic, which could introduce more volatility before the next Bitcoin leg up.
The positive correlation between the ETH/BTC pair and the US Dollar Index has strengthened ahead of the Federal Reserves September rate decision.
Following affirmative comments of an impending rate cut by US Federal Reserve Chairman Jerome Powell, Ethereum (ETH) alongside other crypto assets experienced a rapid price gain with the total crypto market cap rising by 6% on Friday. The price of Ethereum in particular moved upward by 6.38% to nearly breach the $2800 price mark. However, amidst this crypto market raving with bullish sentiments, the Ethereum Foundation (EF), a non-profit organization committed to supporting the Ethereum network, has offloaded a substantial amount of ETH. Related Reading: Ethereum Analyst: Bulls Must Hold $2,500, Spot ETF To Catalyze Demand Ethereum Foundation Executes Largest ETH Sale Of 2024 According to on-chain analytics firm, Spot on Chain, the EF, which is devoted to financing critical developments on the Ethereum network, has been selling small amounts of its holdings in the last few months culminating in 2516 ETH for $7.4 million DAI. On Friday, the Ethereum Foundation executed its largest sale transaction of 2024 depositing 35,000 ETH worth $93.8 million on the Kraken exchange. Generally, whale transactions of this size usually draw much attention as they are indicative of the market’s next likely movement. In particular, this latest transaction by the Ethereum Foundation has been highly speculative, due to the direct affiliation of the organization with the Ethereum network, with some ETH enthusiasts interpreting such a sale as a bearish signal. Notably, in the last few hours following the sale, ETH has experienced a slight decline of 1.3%. However, general market sentiment remains largely bullish with an anticipated rate cut by the Fed in September. Rate cuts, an inverse of rate hikes, mean lower interest rates which allow investors to acquire more volatile assets such as cryptocurrencies. Following Powells announcement on Friday, experts are predicting a rate cut of 30-50bps which could exert relatively positive effects on the crypto market including ETH. Moreover, the recent price surge may help reduce the effect of the immediate expiry of 140,000 ETH options. This is because the assets’ current price ($2750) is far above the max pain point of these options at $2625, i.e. maximum financial losses would occur if the time of option expiration occurred at this market price. Finally, the Ethereum Foundation still retains a large horde of 273,273.96 ETH valued at $754.76 million. Their most recent market transaction, while significant, does not indicate a lack of confidence in Ethereum. Related Reading: Bitcoin Poised for a 200% Rally as Analyst Spot Rare Bullish Pattern ETH Price Overview As earlier stated, Ethereum trades at $2750 following the price boost on Friday. However, long-term traders will be highly expectant of a sustained price rally, as the altcoin still lags by 20.48% on its monthly chart. Featured image from Investopedia, chart from Tradingview
The Federal Reserve is expected to begin lowering its benchmark interest rate in September.
Gavin Wood introduced a major infrastructure development for Web3 citizenship, while Hashkeys CEO forecasted a resurgence in the DeFi market driven by lower interest rates.
Bitcoins correction appears to be losing steam, as indicated by price momentum divergence, the formation of a Doji candlestick and other bullish patterns.
Bullish divergence on the price chart, September rate cut prospects, and increasing M2 supply are some catalysts that could resume the Bitcoin bull market cycle.
For the crypto and broader financial market, FOMC day is upon us once again today. And analysts agree that today’s meeting will be one of the most important in recent years. Kurt S. Altrichter, a financial advisor and founder of Ivory Hill, even describes today’s FOMC meeting as the most important of your life. In a new post on X, Altrichter explains why. FOMC Preview Central to today’s FOMC meeting is the Federal Reserve’s potential indication of a September rate cut. According to Altrichter, the financial markets are almost unanimously anticipating this move, with Fed fund futures indicating a near-certain likelihood of such an outcome. “Market expectation is a strong signal for a September rate cut,” Altrichter points out, marking todays update as a pivotal moment for financial markets. The key question for today is: How strongly does the Fed signal a September rate cut? the expert explains. Investors are directed to pay close attention to the FOMCs statement at 2:00 pm ET, especially the third paragraph, which could subtly signal the Fed’s confidence in reaching its inflation targets. Related Reading: XRP Price Poised For Ultimate Breakout With $18 Price Target: Crypto Analyst Altrichter advises, “Look at the 3rd paragraph for this key sentence: The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent.” Any modification in this wording would be a clear signal that the Fed is nearing its inflation control goals, potentially paving the way for rate adjustments. Altrichter outlines several potential outcomes from the meeting, each associated with specific market reactions. In a dovish scenario, the Fed signals a rate cut for September. Then, Altrichter expects a broad market rally, especially in sectors less sensitive to interest rates. “Yields and the dollar should fall modestly with a modest rally in commodities,” Altrichter predicts, suggesting significant movements in standard and sector-specific indexes. In a hawkish scenario, there will be no change in the forward guidance by the US central bank. If the Fed maintains its current stance without hinting at future cuts, the markets might experience a downturn. “Look out below and expect a sharp decline. SPX should fall by 1-2%,” he warns, noting that tech and growth sectors might relatively outperform due to their appeal during higher yield periods. How Will Bitcoin And Crypto React? The potential adjustments in US monetary policy bear direct consequences for the Bitcoin and crypto markets. Crypto, often viewed as alternative investments, reacts sensitively to shifts in monetary policy, particularly regarding interest rates. Related Reading: Bitcoin Bull Cycle Likely To Go On Till Mid-2025: CryptoQuant CEO If the dovish scenario materializes, this could make Bitcoin and cryptocurrencies more appealing. A signal of lower future rates could drive increased investment into the crypto market, potentially leading to price increases as investors seek higher returns in alternative assets. Conversely, should the Fed signal reluctance to cut rates, indicating a stronger economic outlook or concerns about inflation, this could strengthen the US dollar and increase yields on traditional financial instruments. Such an environment might lead to a pullback in the crypto markets, as the comparative advantage of Bitcoin and cryptocurrencies diminishes against strengthening traditional yields. Max Schwartzman, CEO of Because Bitcoin Inc, commented via X: FOMC is [today] & its incredibly important as we get into the end of this fed cycle… Here is how the last 11 meetings have gone for Bitcoin Thus, today’s FOMC meeting is a watershed moment for financial markets globally, with significant implications for both traditional and crypto markets. As Altrichter succinctly puts it, “A Sept Fed rate cut has driven the 2024 bull market. Tomorrow’s meeting will either reinforce that tailwind or refute it. If the Fed signals a cut, the rally continues. No signal: markets could get ugly.” At press time, BTC traded at $66,462. Featured image from Shutterstock, chart from TradingView.com
The State of Saxony, gripped by fears of a sudden Bitcoin price crash, hastily ordered the sale of its 50,000 BTC stash.
The ECB is widely anticipated to implement a 0.25% rate cut this week, following seven consecutive months of inflation easing across the eurozone.
Key Takeaways: While headlines in the U.S. were dominated by the Federal Reserve’s decision to hold interest rates steady on May 7, the true market-shaking event came quietly from across the Pacific, sparking a surge in Ethereum and altcoins. The People’s Bank of China unexpectedly cut its benchmark lending rate to a historic low of […]
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.
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