As the crypto community awaits the Federal Reserve’s (Fed) rate cut announcement on September 18, the stakes are high for Bitcoin (BTC) and the broader financial landscape. This upcoming decision marks the first central bank rate cut since the Fed slashed its key rate to near zero in March 2020 amid the COVID-19 pandemic.
According to CME Group’s
This suggests that investors anticipate at least one or two substantial
The potential effects of a 50 basis point cut remain hotly debated within the crypto industry. Market expert Crypto Rover
Similarly, analyst Lark Davis
In addition to optimism and bullish expectations, other analysts express caution. EmperorBTC
However, the analyst warns of profit-taking by short-term holders leading to a subsequent
On the other hand, technical analyst Justin Bennett offers a more cautionary historical perspective. He
Bennett’s analysis suggests that current market conditions may mirror previous downturns, calling into question the optimistic projections shared by some for the broader digital asset market.
In a similar vein, NewsBTC
However, the analyst is leaning towards the larger cut, arguing that failure to take decisive action could lead to turmoil reminiscent of “Blood Monday” on August 5, when Bitcoin experienced a sharp
Despite the divided sentiment in the market, Bitcoin has jumped from the $57,000 mark traded on Monday to a current price of $61,000, recording a surge of nearly 6% in a matter of hours in anticipation of tomorrow’s announcements.
Featured image from DALL-E, chart from TradingView.com