Fed Rate Decision & Crypto Prices
Fed Rate Decision & Crypto Prices
1. Fed Holds Rates: The Federal Reserve kept interest rates unchanged, hinting at potential cuts in September.
2. Rate Cut Expectations: Traders anticipate a 100% chance of a 25-basis point cut, with a 14% chance of a 50-basis point cut.
3. Powell's Stance: Fed Chair Jerome Powell mentioned a 50-basis point cut isn't currently considered, focusing on economic data.
4. Crypto Reaction: Bitcoin and Ethereum prices dipped, despite a stock market rally.
5. Expert Insight: Travis Kling of Ikigai Asset Management believes easing Fed policy will support digital assets.
6. Global Easing Cycle: Kling notes major central banks are easing, creating a favorable backdrop for Bitcoin.
7. Crypto Tailwinds: Macroeconomic policy could boost crypto towards year-end.
8. Historical Trends: Rate cuts typically rally risk-on assets, including cryptocurrencies.
Source:https://x.com/dasiaofficial/status/1819216411207893069
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