Bitcoin

Reserve

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-as-fed-predicts-rate-adjustments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Climbs as Fed Predicts Rate Adjustments</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/grayscale-foresees-a-distinct-halving-effect-on-bitcoins-market-trajectory" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has surged past $63,700 following remarks from a Federal Reserve official, highlighting potential changes in monetary policy. This development is significant for cryptocurrency investors, as the Fed’s decisions on interest rates profoundly influence market dynamics. The market is closely watching Fed signals, which indicate possible rate cuts, to gauge their impact on digital currencies.</p>
<h2 id="what-is-driving-bitcoin-s-recent-surge">What is Driving Bitcoin’s Recent Surge?</h2>
<p style="text-align: justify">The latest rise in Bitcoin’s value is attributed to statements made by Fed official Goolsbee. Goolsbee expressed support for a 50 basis point rate cut and emphasized the Fed’s concerns over employment risks alongside inflation. Similar sentiments were echoed by other Fed members, Bostic and Kashkari, reinforcing the focus on balancing economic stability. Goolsbee’s perspective underscores the need for significant reductions in interest rates to address economic challenges effectively.</p>
<h2 id="how-are-upcoming-rate-decisions-expected-to-unfold">How Are Upcoming Rate Decisions Expected to Unfold?</h2>
<p style="text-align: justify">Fitch Ratings forecasts that the Federal Reserve might introduce a 25 basis point rate cut in the scheduled meetings for November and December. This expectation aligns with market projections of a cumulative 100 basis point reduction for the year. Although Fitch indicates a gradual approach to rate cuts, discussions within the Federal Reserve continue as members deliberate over the appropriate monetary strategy.</p>
<p style="text-align: justify">– Goolsbee supports a 50 basis point rate cut, highlighting employment risks.<br> – Bostic and Kashkari align with Goolsbee’s emphasis on economic balance.<br> – Fitch Ratings anticipates modest rate reductions in upcoming Fed meetings.<br> – Market expectations include a total 100 basis point rate cut for the year.<br> – The cryptocurrency market remains sensitive to Fed’s rate decisions.</p>
<p style="text-align: justify">A clear direction from the Federal Reserve regarding interest rate cuts could lead to further increases in cryptocurrency values. As the labor market’s health remains a key concern, traders and investors are closely monitoring the Fed’s policy cues. These developments suggest that continued attention to economic indicators will be crucial for predicting Bitcoin’s trajectory in the coming months.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-climbs-as-fed-predicts-rate-adjustments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Climbs as Fed Predicts Rate Adjustments</a></h5>

Bitcoin Climbs as Fed Predicts Rate Adjustments

Table of Contents

BH NEWS

Other articles published on Sep 23, 2024

Is the Bitcoin Bull Run Over? Sudden Profit-Taking Raises Doubts

BingX Exchange Hit by $26M Crypto Theft: Report

Travala Integrates Solana for 10% Rewards and Faster, Fee-Free Crypto Travel

Is Avalanche (AVAX) the Next Big Crypto? Experts Predict a Surge to $71

Wakil Walikota di AS akan Jabarkan Hasil Pemanfaatan Bitcoin

Early Shiba Inu Investor Reaps $1 Million Profit from NEIRO Bet

Join our free newsletter for daily crypto updates!