7 0
Bitcoin Surges to $91,000 Amid Speculation of Fed Rate Cut
The price of Bitcoin has reached $91,000, indicating a potential market rebound after previous declines. However, analysts remain cautious as whales are reducing their BTC holdings, which could signal a short-lived rally.
Traders Anticipate Fed Rate Cut
- Bitcoin is trading at $91,404.10, reflecting a 4.51% increase in the last 24 hours.
- The coin remains approximately 20% lower over the past 30 days, having previously fallen to $81,000 on November 21.
- Expectations for a Federal Reserve rate cut by December 2025 are influencing this surge, with some officials advocating for a 25-basis-point reduction.
- Federal Reserve Governor Chris Waller supports the rate cut, citing weakening labor market data.
Fed Communication and Bitcoin
- Boston Fed President Susan Collins prioritizes inflation concerns over labor weakness, opposing a rate cut.
- 10X Research analysts emphasize that Fed Chair Jerome Powell’s communication may impact Bitcoin more than actual rate cuts.
- Risk exists for market selloff if the Fed does not proceed with the rate cut.
- Coinbase reports a significant influx of USDC, indicating improved liquidity as Bitcoin reaches $91,000.