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bullish

Bitcoin

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Reserve

<ul>
  
 <li>The highly-anticipated US Fed rate cut is announced at 50 bps.</li>   
 <li>Bitcoin reacted bullishly as many analysts expected with a surge to $62,000.&nbsp;</li>   
 <li>Financial experts debate and discuss what's next for stocks, crypto, and finance.</li> 
</ul>   
<p>The highly-anticipated announcement of the <a href="https://cryptonewsland.com/fed-rate-cut-what-how-crypto/" target="_blank" rel="noreferrer noopener">US Fed rate cut</a> finally came through at what many financial exports expected to be at 50 bps. The crypto market reacted bullishly as many analysts expected on a <a href="https://x.com/CryptoBullet1/status/1836466351256297630" target="_blank" rel="noreferrer noopener nofollow">50 bps announcement</a>. In particular, Bitcoin (BTC) price surged to reclaim the $62,000 price level.</p>   
<h2 class="wp-block-heading" id="h-fed-rate-cut-announced-at-5-bps-slightly-lower-than-expected">Fed Rate Cut Announced at 5 bps, Slightly Lower Than Expected</h2>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/WuBlockchain/status/1836473276408959266 
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<p>In detail, the US Federal Reserve announced an interest rate ceiling of 5% which turned out to be slightly lower than the expected 5.25% and the previous rate cut of 5.5%. The last rate cut took place in March 2020, soon after which Bitcoin began its pump towards its ATH of $69,000 set in 2021.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/DrProfitCrypto/status/1836466964908134443 
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<p>One crypto analyst known for his accurate prediction is the silver-tongued Doctor Profit. This analyst has repeatedly preached of the rate cut being 0.5 which he said would result in a short-term bullish reaction. Indeed, his prediction has played out once again. He made this prediction when the probability of a 50 bps announcement was below 2%.</p>   
<p>Meanwhile, an <a href="https://x.com/Geiger_Capital/status/1836477991192531210" target="_blank" rel="noreferrer noopener nofollow">economics expert</a>, shares their observations based on previous Fed rate cuts. Back in 2001 when a 50 bps rate cut was announced, S&amp;P 500 fell by 39% over the next 448 days as unemployment went up by 2.1%, leading to a recession. Similarly, when a 50 bps rate cut was announced in 2007, S&amp;P 500 fell by 54% over the next 372 days as unemployment went up by 5.3%, which also led to a recession.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-what-to-expect-next-for-the-financial-and-crypto-sector">What to Expect Next for the Financial and Crypto Sector?</h2>   
<p>The expectations for 2024’s reaction after a 50 bps is still being speculated but many analysts expect the same outcome where stocks could fall, unemployment could go up, and a recession to hit. In contrast, the crypto market expects to see <a href="https://cryptonewsland.com/anthony-scaramucci-sees-bitcoin-hit-100k-with-upcoming-fed-rate-cuts/" target="_blank" rel="noreferrer noopener">bullish action for Bitcoin</a> and altcoin in the coming weeks and months.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/WuBlockchain/status/1836597636075524360 
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</figure>   
<p>As for what can be expected next, cryptos are already up since the rate cut announcement as US stocks underperform. Another interest rate meeting is set to take place on November 8 and December 19 where a cumulative 100 bps rate cut is expected. This will coincide with the US Presidential election adding to the volatility of an already volatile situation leads to extremely high shifts in the space.</p>          
<p>The post <a href="https://cryptonewsland.com/50-bps-fed-rate-cut-bitcoin-pump-bullish/">50 bps Fed Rate Cut Results in Bitcoin Price Pump as BTC Surges to $62,000 Price Level, Bullish Scenario Play in Order</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

50 bps Fed Rate Cut Results in Bitcoin Price Pump as BTC Surges to $62,000 Price Level, Bullish Scenario Play in Order

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