The crypto market just felt the shockwave of the Federal Reserve’s bombshell move! 🚀 On Wednesday, the Fed stunned investors by slashing its benchmark interest rate by 50 basis points, landing it at 4.75%-5%—the first cut in four years after the most aggressive hiking spree in decades! And guess what? This could just be the beginning! 📉
What does this mean for Bitcoin?
Hold onto your hats, because BTC spiked 1.4% to hit $61,000 immediately after the news broke! With 2-3% swings predicted, we could see wild volatility as the crypto space adjusts to this unexpected turn.
But here’s where things get spicy: the Fed’s dot plot forecasts ANOTHER RATE CUT before 2024 kicks in, with more slashes in 2025 and 2026. Are we staring at a prolonged bull run for BTC and other major cryptos? The inflation dragon seems tamed, but Arthur Hayes of BitMEX is ringing alarm bells. 💣 He predicts we could see a market crash if U.S.-Japan borrowing spreads collapse—an echo of the August BTC crash where prices dipped below $50,000!
While the S&P and Nasdaq also climbed on the news, all eyes are on the crypto sector with MicroStrategy (+3.77%)Coinbase (+3%), and Galaxy (+2.1%) surging in tandem with BTC! The market is primed, and this rate cut is about to fuel a fierce crypto rally—or will we see wild crashes like in 2008? 🔥
👉 December’s FOMC meeting could be the next BIG moment to watch as markets brace for another potential 50 bps cut. Could we see BTC break $70K before 2024, or will Powell’s next move send us spiraling down? Buckle up! The crypto ride just got a lot more intense
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