🚨 Bitcoin Holds Above $60K Amid Fed Decision Await 📉💸
Bitcoin continues to trade above $60,000 despite a slight drop as traders await the Fed's rate cut announcement today. BTC has gained 4% in the past 24 hours, while the CoinDesk 20 (CD20) Index has gained 1.1%. However, analysts are warning of a possible sell-off if the rate cut is 50 bps, which could signal recessionary concerns 😬.
Traders are worried that a 50 bps cut could trigger a short-term correction in the market. However, as Anthony Scaramucci noted, Bitcoin could reach a new record with further rate cuts and better crypto regulation in the US 🚀.
