Fed Rate Decision & Crypto Prices

Marcus_Web3
2024-08-02

Fed Rate Decision & Crypto Prices

1. Fed Holds Rates: The Federal Reserve kept interest rates unchanged, hinting at potential cuts in September.

2. Rate Cut Expectations: Traders anticipate a 100% chance of a 25-basis point cut, with a 14% chance of a 50-basis point cut.

3. Powell's Stance: Fed Chair Jerome Powell mentioned a 50-basis point cut isn't currently considered, focusing on economic data.

4. Crypto Reaction: Bitcoin and Ethereum prices dipped, despite a stock market rally.

5. Expert Insight: Travis Kling of Ikigai Asset Management believes easing Fed policy will support digital assets.

6. Global Easing Cycle: Kling notes major central banks are easing, creating a favorable backdrop for Bitcoin.

7. Crypto Tailwinds: Macroeconomic policy could boost crypto towards year-end.

8. Historical Trends: Rate cuts typically rally risk-on assets, including cryptocurrencies.

Source:https://x.com/dasiaofficial/status/1819216411207893069

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