Reserve

FOMC

Jerome Powell

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-rallies-after-key-data" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Rallies After Key Data</a><br></p>
<p style="text-align: justify">Following the release of highly anticipated <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, <a href="https://en.bitcoinhaber.net/bitcoin-sees-volatile-trading-as-analysts-forecast-crucial-levels" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value surged to $69,500 before stabilizing at around $69,220. The reduction in inflation appears to have calmed the market, which had been shaken by recent Non-Farm Payroll data. However, market participants are closely watching the Federal Reserve, expecting a major move soon.</p>
<h2 id="how-will-the-fed-react">How Will the Fed React?</h2>
<p style="text-align: justify">The Federal Reserve is set to announce its interest rate decision and reveal its three-year forecast for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rates</a>. Fed Chairman Jerome Powell will also provide an assessment of the latest economic data. With favorable indicators like JOLTS, PCE, and the Unemployment Rate, and a positive inflation report, there is a possibility that recent declines in cryptocurrency prices could present buying opportunities if Powell strikes an optimistic tone.</p>
<p style="text-align: justify">Given the European Central Bank’s recent rate cut, a highly aggressive stance from the Fed is not expected, especially with data indicating economic weakness in the US. The consensus among Fed members points to a potential rate cut of around 75 basis points this year. Signals of the first cut may emerge as early as September, maintaining the market’s excited anticipation.</p>
<h2 id="what-does-qcp-capital-predict">What Does QCP Capital Predict?</h2>
<p style="text-align: justify">Trading firm QCP Capital, known for its macroeconomic assessments, shared an optimistic outlook just before the inflation data release. They noted the bounce in BTC futures swap points and a rise in yields, suggesting potential gains above 15% with any positive catalyst. Aggressive buying in June 13th maturity bonds and increased funding rates indicate market positioning for an upward surprise.</p>
<h2 id="key-market-insights">Key Market Insights</h2>
<p style="text-align: justify">• BTC futures swap points have rebounded from a low of 10%, indicating renewed investor confidence.<br> • The market shows aggressive buying in June 13th maturity bonds, suggesting expectations of positive outcomes.<br> • A drop in CPI and neutral FOMC results could catalyze crypto markets to test peak levels again.<br> • The trading community is eagerly anticipating a breakout following the FOMC meeting.</p>
<p style="text-align: justify">As the Fed prepares to announce its decisions, the financial world watches closely. Potential interest rate cuts and a favorable economic outlook could continue to drive Bitcoin and other cryptocurrencies higher.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-rallies-after-key-data" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Rallies After Key Data</a></h5>

Bitcoin Price Rallies After Key Data

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