Assessing Fed rate cut odds and its impact on Bitcoin
The post Assessing Fed rate cut odds and its impact on Bitcoin appeared on BitcoinEthereumNews.com. The CME FedWatch Tool has indicated a low probability of a cut. Senator Warren’s letter hinted at Bitcoin’s bullish situation. With the Federal Open Market Committee (FOMC) meeting scheduled for the 12th of June, the crypto community is abuzz with speculation about its effect on market dynamics. Current indications suggest that interest rates will likely remain unchanged. In fact, the CME FedWatch Tool indicated at a mere 0.6% probability of a quarter-point rate cut at the meeting. Source: CME FedWatch Tool In other news, Senator Elizabeth Warren wrote a letter to Federal Reserve Chair Jerome Powell on the 10th of June, urging for interest rate cuts. The letter urged, Source: Warren.senate.gov Impact on the crypto market According to CoinMarketCap, the global crypto market was down by 0.45% over the last day at the time of writing, reflecting FUD (Fear, Uncertainty, and Doubt). Moreover, on the 11th of June, Bitcoin [BTC] spot exchange-traded funds (ETFs) experienced significant outflows of $200.4 million, with Grayscale Bitcoin Trust ETF (GBTC) leading the pack as per Farside Investors. Source: Farside Investors Here, it’s important to note that rate cuts often lead to bullish momentum for risk-on assets like Bitcoin and cryptocurrency. So, Senator Warren’s appeal could end up helping Bitcoin and the crypto market in general. Inflation remains sticky Needless to say, the inflation rate in the US has been a matter of concern for quite some time. According to the Bureau of Labor Statistics and the Department of Commerce, the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) index, has shown faster improvement compared to the Consumer Price Index (CPI). However, both indicators indicate persistent inflation. Source: Bureau of Labor Statistics and Department of Commerce Optimism persists Despite concerns, Michaël van de Poppe took to X (formerly Twitter) and noted, “It’s important…
The post Assessing Fed rate cut odds and its impact on Bitcoin appeared on BitcoinEthereumNews.com.
The CME FedWatch Tool has indicated a low probability of a cut. Senator Warren’s letter hinted at Bitcoin’s bullish situation. With the Federal Open Market Committee (FOMC) meeting scheduled for the 12th of June, the crypto community is abuzz with speculation about its effect on market dynamics. Current indications suggest that interest rates will likely remain unchanged. In fact, the CME FedWatch Tool indicated at a mere 0.6% probability of a quarter-point rate cut at the meeting. Source: CME FedWatch Tool In other news, Senator Elizabeth Warren wrote a letter to Federal Reserve Chair Jerome Powell on the 10th of June, urging for interest rate cuts. The letter urged, Source: Warren.senate.gov Impact on the crypto market According to CoinMarketCap, the global crypto market was down by 0.45% over the last day at the time of writing, reflecting FUD (Fear, Uncertainty, and Doubt). Moreover, on the 11th of June, Bitcoin [BTC] spot exchange-traded funds (ETFs) experienced significant outflows of $200.4 million, with Grayscale Bitcoin Trust ETF (GBTC) leading the pack as per Farside Investors. Source: Farside Investors Here, it’s important to note that rate cuts often lead to bullish momentum for risk-on assets like Bitcoin and cryptocurrency. So, Senator Warren’s appeal could end up helping Bitcoin and the crypto market in general. Inflation remains sticky Needless to say, the inflation rate in the US has been a matter of concern for quite some time. According to the Bureau of Labor Statistics and the Department of Commerce, the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) index, has shown faster improvement compared to the Consumer Price Index (CPI). However, both indicators indicate persistent inflation. Source: Bureau of Labor Statistics and Department of Commerce Optimism persists Despite concerns, Michaël van de Poppe took to X (formerly Twitter) and noted, “It’s important…
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