Market Experts Commented on the Latest Situation in Bitcoin and ETH After the FED Rate Cut!
QCP Capital experts evaluated the FED rate cuts in their latest report.
QCP Capital, which has attracted the attention of cryptocurrency investors with the daily reports it has shared recently, continues its daily reports. As of today, it seems that the main subject of the report shared by QCP Capital is the FED's 50 basis point rate cut.
The FED, which lowered interest rates by 50 points last night, gave important signals for the coming months. QCP Capital experts mainly conveyed the following information in their latest report:
“The US Federal Reserve (FED) announced a 50 basis point rate cut last night and stated that it plans to make two more cuts this year and four more in 2025.
While Powell's uncertainty about the size and speed of the next cuts continues, all attention is turned to the upcoming labor force data.
The US 2Y/10Y bond spread has been trading in the opposite direction since July 2022, a recession indicator, but has recently risen to +8 basis points.
This indicates market optimism and a possible shift towards riskier assets. The S&P 500 tried to reach new highs but closed in the red after the FOMC meeting.
In the options market, volatility decreased after the FOMC meeting. After the FOMC, BTC rose from $59,000 to $62,000, while ETH is trading around $2.4,000.”
Stay tuned for all developments.
