Fed Cuts Interest Rate to 3.5%-3.75%, Impacts Bitcoin Outlook

The Federal Reserve announced a 25 basis points interest rate cut, setting the new range at 3.5% to 3.75%. This move could indicate a positive shift for the cryptocurrency market.

Potential Bitcoin Surge

  • Kevin Hassett sees potential for further rate cuts, which could benefit Bitcoin.
  • Analyst Michael van de Poppe suggests that maintaining support between $91,500 and $92,000 is crucial for Bitcoin to potentially reach $100,000.

Historical Patterns and Future Outlook

  • Market expert Ash Crypto notes previous 5-10% declines in Bitcoin following similar rate cuts.
  • Current market conditions differ, with potential for increased liquidity and end of quantitative tightening.
  • Hints of quantitative easing from Powell could further boost market optimism.

Bitcoin

Chart data from TradingView.com