ETHBTC Pair, XRP and General Crypto Markets Analyst Comments.

We are now coming to the end of September and the Fed has started interest rate cuts quite strongly. Before the end of the year, the markets expect the total 100bp cut target to be realized. Keeping interest rates at the top for more than a year has been the factor that has suppressed risk markets.

In his latest market assessment shared hours ago, Benjamin Cowen reminded us of his view that the bottom in the ETH/BTC pair will be 0.03-0.04BTC. We saw 0.0383 in the ETHBTC pair days ago as the lowest level since April 2021. According to him, trying to catch the bottom zero-zero was not a smart move and the price bottomed. He shared his current forecast with the following sentences.

“If 0.038 cannot hold as support, 0.036 can provide support as it is also the highest level of 2016.

Again, I do not know exactly where the lowest level is. My view is that the worst case scenario is 0.03, but I would be surprised if it actually drops that low. For the sake of uncertainty, I think ETH/BTC will rise in 2025, and the debate over whether the bottom is 0.03, 0.036, or 0.038 is irrelevant.

In the last cycle, ETH/BTC bottomed when QE started, and that may still be a long way off. However, let's add that in 2016 and 2019, ETH/BTC bottomed only lasted 7-8 weeks, and we are currently in week 8.

When ETH/BTC fell in both 2016 and 2019, ETH/USD fell in Q4, but in 2019, ETH/BTC bottomed in September.”

The path of the stock markets is much more important for crypto investors during this period. While risk markets welcome the Fed's decision, we saw a new peak in the SPX. Macro expert Innocent also welcomes the rise and says the latest employment data supports it.

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