Bitcoin Eyes Gains as Fed Rate Cut Decision Looms

As traders await the Federal Reserve's rate cut decision, Bitcoin remains strong, holding above $60,000 and up 7% for the week. Currently trading at $60,300, Bitcoin has recovered nearly 4% in the last 24 hours. Other major cryptocurrencies showed minor fluctuations, with Ethereum and $BNB up, while XRP and $ADA saw slight losses.

The Fed is expected to lower rates, with a 67% chance of a cut to 4.5-5%. A smaller cut (25 bps) could support market growth, while a larger one (50 bps) might signal economic concerns and trigger pullbacks. However, experts predict a strong Q4 for Bitcoin, which has historically seen significant gains during this period.

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