According to BlockBeats, on September 16, André Dragosch, head of Bitwise European research, said, “The relatively strong manufacturing report shows that if the Fed cuts interest rates by 50 basis points, the market reaction may be positive, because this leading indicator has shown that the underlying economic momentum in September has even accelerated, which means that we may have entered the early stages of the ‘just right scenario’, that is, low inflation, stable growth and stimulating monetary policy.
I think over the next few months the market will be driven more by expectations of rate cuts than by rate cuts themselves.
Expectations of further rate cuts are likely to intensify due to a weakening U.S. economy and an impending recession, which we expect to have a net positive impact on Bitcoin and crypto assets.” (The Block)
