The post Standard Chartered Predicts Bitcoin Surge with Fed Rate Cut and Spot ETF Revival appeared on BitcoinEthereumNews.com.

Banking giant Standard Chartered has forecasted a long-term bullish trend for Bitcoin in light of the Federal Reserve’s interest rate cut. According to Standard Chartered’s report, macroeconomic factors could drive cryptocurrency prices higher, irrespective of the US presidential elections in November. Following the Federal Reserve’s 50 basis point rate cut, the Bitcoin and altcoin markets demonstrated robust performance. Standard Chartered noted, “Digital assets are topping performance rankings post the FOMC meeting for the first time in a long time.” Discover how Bitcoin’s trajectory could change with the Federal Reserve’s decisions and upcoming economic events. Federal Reserve’s Rate Cut and Its Impact on Cryptocurrency In a newly published report, Standard Chartered highlighted that macroeconomic dynamics could lead to an upswing in cryptocurrency prices. The recent decision by the Federal Reserve to cut interest rates by 50 basis points has catalyzed a significant performance boost in Bitcoin and altcoins. The report suggests that this financial maneuver could set the stage for sustained growth in the digital asset market. The Role of Spot Bitcoin ETFs Another critical point in Standard Chartered’s analysis is the potential impact of spot Bitcoin ETFs on the price of BTC. The report mentions a possible resurgence in capital inflows into these financial instruments by October, which could further bolster Bitcoin’s market performance. This projection provides a positive outlook for investors eyeing long-term gains. Presidential Elections and Market Dynamics Interestingly, Standard Chartered posits that the upcoming US presidential elections may not significantly influence the cryptocurrency market, as macroeconomic factors take precedence. Although political events typically influence market sentiment, the analysts argue that broader economic trends are likely to have a more substantial impact on digital asset prices this time around. Yield Curve Observations Analysts at Standard Chartered are also keeping a close watch on the 2s10s yield curve in…

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Filed under: News - @ September 20, 2024 8:27 am