Bitcoin price attempts to turn the tide after Fed’s 0.5% rate cut
Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.
Auto Added by WPeMatico
Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.
BitMEX co-founder Arthur Hayes disclosed significant holdings in Ether, Ethena and Pendle, expressing confidence about the next ETH bull market.
If the Fed cuts rates by just 25 bps, “crypto will likely fall along with that,” said CEO of crypto hedge fund Asymmetric, Joe McCann.
Analysts say Bitcoin’s recent price action could be a sign that the path to new all-time highs has begun.
Ether’s price in Bitcoin terms has also fallen to its lowest level since April 2021.
Bitcoin must hold above the $50,000 mark until the Sept. 18 Federal Reserve meeting to avoid more downside.
Crypto ownership has not significantly risen even with the bear market over, according to the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.
Bitcoin could start its rally next week, on a potential liquidity injection in the world’s largest economy.
The flow of money has gone from treasury bills into higher-yielding reverse repos, according to the former BitMEX boss.
Bitcoin may be decoupling from concerns about a US recession and aligning more closely with the US dollar’s performance and signs of easing monetary policy, […]
