Bitcoin, XRP, Ethereum Dip Post Fed’s Rate Cut: What’s Next For Crypto?
On Wednesday, the Federal Reserve (Fed) announced a 25-basis-point rate cut from the previous rate of 4.25%, aligning with market expectations. Despite this bullish development being highly anticipated by top experts as the best catalyst for the remainder of the year, Bitcoin (BTC), XRP, and Ethereum (ETH) led the market downturn following the announcement. Fed Chair Signals Uncertainty Over Further Rate Cuts The selloff intensified after Fed Chairman Jerome Powell indicated during his press conference that another interest-rate cut in December “is not a foregone conclusion.” This....
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Bitcoin and the rest of the crypto market have been in a festive mood in response to the U.S. Federal Reserve’s interest rate hike, sending both Bitcoin and Ethereum climbing in prices. The Fed’s announcement has sent Bitcoin’s price up by 5%. As of this writing, Bitcoin is trading at $22,837, up 7 percent in the last 24 hours. More so, Ethereum’s price also spiked by 11.6%; hitting $1,550, data from Coingecko show, Thursday. In fact, the entire crypto market is on a positive outlook with the total crypto market cap at $1 trillion. Bitcoin was down the past week with its....
The Federal Reserve’s latest policy move was expected to calm financial markets. Instead, it set off one of the sharpest intraday reversals the crypto sector has seen this quarter. Related Reading: Upcoming Crypto Market Structure Bill Markup Likely Pushed To Post-Holiday After delivering a widely anticipated 25-basis-point rate cut, the Fed signaled a slower path […]
Data shows the staking rate of the Ethereum Proof-of-stake contract (formerly called the ETH 2.0 upgrade) has surged up recently, a sign that could be positive for the crypto’s price. Ethereum 2.0 Staking Rate Surges Up As Inflows Spike As pointed out by an analyst in a CryptoQuant post, the ETH staking rate has observed […]
Quick Facts: 1️⃣ The Fed’s expected rate cut and low Stablecoin Supply ratio point to rising liquidity and renewed confidence across the crypto market. 2️⃣ A dovish speech by Powell could unlock fresh capital for risk assets, setting up a true ‘Uptober’ breakout. 3️⃣ Post-FTX demand for self-custody continues to grow, boosting interest in wallet-based […]
Quick Facts: ➡️ The market puts the odds of another rate cut at 87% as the next Fed meeting is set for December 10, one week from now. ➡️ Another rate cut could turn investors to risk-based assets like Bitcoin, which would result in a crypto pump across the board. ➡️ Bitcoin Hyper introduces a […]