The post The Chances Of Interest Rate Cut? appeared on BitcoinEthereumNews.com.

The long-awaited September Fed meeting is set to take place this week between September 17 and 18. The US Federal Reserve is expected to announce an interest rate cut at its press conference on September 18. Current market odds show that the Fed will likely cut rates by 25 or 50 basis points (bps). Any potential rate cut is expected to significantly impact Bitcoin and other crypto assets. The Chances Of An Interest Rate Cut Ahead Of Fed Meeting The CME FedWatch data shows a 59% chance of a 50 bps Fed rate cut and a 41% chance of a 25 bps rate cut at the September Fed meeting. The latest Polymarket data also shows a 55% chance of a 50 bps rate cut and a 43% chance of a 25 bps rate cut. Until last week, the odds of the Fed cutting interest rates by 25 bps were higher than 50 bps. However, the release of the PPI inflation data showed that the US economy has improved, prompting the possibility of higher rate cuts. This interest rate cut will be the first from the Fed since March 2020. The crypto community has monitored this development for a while, as this macro event will impact Bitcoin price and the broader crypto market. Based on historical trends, BTC tends to benefit from a rate cut. The March 2020 rate cut kickstarted the 2021 bull run when the flagship crypto rose to around $69,000. What To Expect After Interest Rate Cut Crypto trader and analyst Doctor Profit has provided insights into what to expect from Bitcoin price if an interest rate cut occurs following the September Fed meeting. The analyst stated that BTC will likely face downward pressure. He remarked that the Israel-Lebanon conflict could also add fear to the market, causing…

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Filed under: News - @ September 16, 2024 10:21 am