đ **Bitcoin on the Verge of a Spike or a Crash?**
Bitcoin traders are anxiously awaiting the outcome of the FOMC meeting. There is speculation that the Fed may cut interest rates, but how much of a cut remains to be seen. Will this trigger a major Bitcoin surge or lead to a sell-off?
đ° **Bitcoin Remains Strong Above $60K**
Bitcoin's price is holding steady above $60,000, good news for traders who were worried when the price dipped below that level. If BTC can close above $61,900, some analysts are predicting a breakout. However, September has been a tough month for BTC, although Bitcoin is up 4% in the last 24 hours.
đ **Scaramucci's Optimism**
SkyBridge Capital founder Anthony Scaramucci is confident that Bitcoin will hit a new record. He predicts that the Fed will cut interest rates by 150 basis points over the next 18 months, which he believes will push BTC to $100,000 by the end of this year. In addition, he is optimistic about new crypto regulations in the US after the next presidential election.
đ **Interest Rate Cut: Pros and Cons**
The Fedâs decision has confused the market. A small cut might boost the market and Bitcoin, but a big cut could signal a weakening economy, which could hurt risk assets like BTC. Economists like Peter Schiff warn that a rate cut could hurt the dollar and trigger inflation.
đ **Rally or Stagnation?**
The question is whether a rate cut will help Bitcoin move higher. Some traders are eyeing the $61,900 level as key. If Bitcoin breaks through this level, we may see a rally. However, others are worried that the economy could interfere. The FOMC decision will have a big impact on BTC in the coming days.
