The post FED President Signaled Interest Rate Cut, Bitcoin Dropped! Bitfinex Analyst Announces What He Expects From Now! appeared on BitcoinEthereumNews.com.

The US Federal Reserve announced its highly anticipated interest rate decision yesterday. In line with expectations, the FED kept it constant in the range of 5.25-5.5, which is the peak of the last 23 years. Speaking after the interest rate decision, FED President Jerome Powell said that a rate cut may be on the table in September, although not directly. Powell stated that the FED is considering a possible interest rate cut in September and that they will evaluate inflation and economic data in the coming months before making an interest rate cut. While Powell’s speech was generally interpreted as moderate, Powell was careful to speak cautiously as well as this moderate approach. At this point, Powell made circular sentences and said, “Why was there no interest rate cut this month?” “We’re getting closer to the point where it would be appropriate to lower our interest rate, but we’re not there yet.” he replied. Bitcoin Falls After FED! Bitcoin, which tried to reach 70 thousand dollars at the beginning of the week but failed, fell after the FED decision. BTC, which was at the level of 66 thousand dollars before the FED decision, fell to $ 63,500 at night, despite a moderate approach from Powell regarding interest rate cuts. It is considered that the tension in the Middle East may be behind this decline. Because the assassination of Hamas leader Haniye in Iran’s capital Tehran increased the tension in the Middle East. Optimism Continues About Bitcoin Price! With Powell stating that an interest rate cut may be on the table in September, analysts expect the BTC price to react positively to the interest rate cut. Speaking to Coindesk, Bitfinex Derivatives Head Jag Kooner said that an interest rate cut in September will have a positive impact on BTC and cryptocurrency…

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Filed under: News - @ August 1, 2024 9:22 pm