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The U.S. Federal Reserve's (Fed) rate-cutting cycle may stall the ongoing prolonged uptrend in bitcoin's {{BTC}} dominance rate, bringing wider gains in the crypto market, according to crypto asset manager SwissOne Capital. BTC's dominance rate, or the cryptocurrency's share in the total market capitalization, has increased from 38% to 58% in two years, according to data source TradingView. In other words, BTC has seen faster gains relative to the wider market, leading the doubling of the total digital asset market value to over $2 trillion. Per SwissOne Capital, there is now limited scope for further upside in BTC's dominance rate as the Fed has recently cut rates by 50 basis points, kicking off a so-called easing cycle. "Bitcoin Dominance is positively correlated to the Fed Funds rate," SwissOne Capital said in a market update, noting the decline in the dominance rate during the previous rate cutting cycles. The chart shows bitcoin's dominance peaked above 70% and turned lower with the start of the easing cycle in the second half of 2019. The metric fell to nearly 40% in late 2021 as central banks worldwide and governments injected trillions into the financial system to cushion against the impact of coronavirus, leading to unprecedented risk-taking in all corners of the financial market, including alternative cryptocurrencies (altcoins), or tokens other than BTC. The positive correlation between the two was also evident through the 2022-23 and 2018 rate hike cycles. "The recent start of the U.S. rate cutting cycle certainly points to little further upside if history is to repeat itself," SwissOne Capital noted. Per CME's FedWatch tool, traders expect the Fed to reduce rates by another 25 basis points by the end of the year. Lower highs The BTC dominance rate has produced lower peaks since 2015 in a sign of broader market growth. The latest two-year surge, though impressive, still leaves the metric well short of the previous peak of 73%. That's probably due to the explosive growth of stablecoin, reflected by a record market capitalization of $172 billion.

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Bitcoin 'capitulation incoming' as liquidity risks sub-$50K BTC price Bitcoin BTCUSD threatens a trip to long-term range lows before “full bull” takes over BTC price action. In his latest analysis on X, released Oct. 10, popular analyst Cole Garner said that he sees “capitulation incoming” for Bitcoin markets.

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Bitcoin Price Fails At MA-200, Is A Crash To $52,000 Coming? Following its brief stint above $66,000, the Bitcoin price fall had put it below multiple important levels. This allowed the bears to thrive as they reclaimed control of the largest cryptocurrency by market cap once again. Even now, as the Bitcoin price looks toward some recovery, the bear camp continue to wax stronger, with a most recent failure to break the MA-200, suggesting that the uptrend may only be temporary and a larger crash could be at play.

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Crypto.Com Takes Legal Action Against SEC, Chair Gary Gensler To ‘Protect Future Of Crypto In US’

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FBI Busts $25M Crypto Fraud Ring: 18 Charged In 'Operation Token Mirrors' Involving Fake Token NexFundAI The Federal Bureau of Investigation has charged 18 individuals and companies with fraud and manipulation following a sting operation involving a fake cryptocurrency token. The operation, dubbed "Operation Token Mirrors," led to the arrest of three individuals in Texas, the UK, and Portugal. What Happened: The U.S. Department of Justice has announced that five defendants have either pleaded or agreed to plead guilty. The operation seized over $25 million in cryptocurrency assets, reported the Financial Times on Wednesday. The U.S. Securities and Exchange Commission (SEC) stated that the scheme involved "on-demand market manipulation" on trading platforms, creating massive artificial trading volumes. The SEC highlighted that ZM Quant, a supposed market maker, was enlisted to support trading in NexFundAI, a token designed to invest in AI projects. ZM Quant's employees allegedly advised on inflating the token's price for profit. Unbeknownst to them, NexFundAI was an FBI tool to dismantle the pump-and-dump operation. Jodi Cohen, an FBI special agent, stated, "The FBI took the unprecedented step of creating its very own cryptocurrency token and company to identify, disrupt and bring these alleged fraudsters to justice." Charges include market manipulation and conspiracy to commit money laundering, with potential sentences of up to 20 years. Why It Matters: The FBI's operation comes amid a backdrop of increasing cryptocurrency fraud. In 2023, Americans lost a staggering $5.6 billion to cryptocurrency-related scams, according to the FBI's 2023 Cryptocurrency Fraud Report. This marks a 45% increase from the previous year, underscoring the growing sophistication of cybercriminals in the digital asset space. Additionally, the FBI has been vigilant in issuing warnings against various crypto scams, including crypto exchange impersonation scams and unregistered crypto services. Meanwhile, the king crypto Bitcoin (CRYPTO: BTC) is currently trading at $63,126.50, up 0.45%

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