Bitcoin Gains Expected as US Jobs Data Drives Fed Rate Cuts, Analyst Says

October 5, 2024 Bitcoin.com

21shares

A researcher from 21shares has offered an analysis of how bitcoin’s price could respond to the U.S. jobs report. The analyst indicates that BTC prices could increase if the Federal Reserve reduces interest rates. These rate cuts, which are likely tied to labor market trends, could lower borrowing costs, potentially boosting the cryptocurrency market. Bitcoin’s […]

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BTC’s Future in Focus: 4 Key Factors That Could Drive or Stall Its 2024 Rally

October 4, 2024 Bitcoin.com

Bitcoin

At press time, the crypto economy is cruising at $2.14 trillion, following a modest uptick Friday morning. There are 88 days left in the year, 32 days until the 2024 U.S. Election Day, and 34 days until the Federal Reserve’s next meeting. With numerous developments, including rising tensions in the Middle East, a variety of […]

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US jobs report signals fewer rate cuts, still bullish for BTC: Grayscale

October 4, 2024 Coin Telegraph

Bitcoin Price

The bullish jobs report adds fuel to hopes for an “Uptober” and fourth-quarter rally in Bitcoin’s price.

The strong United States September jobs report signals a possible slowdown in interest rate cuts but is still bullish for Bitcoin (BTC) as investors warm to riskier assets, Zach Pandl, Grayscale’s head of research, told Cointelegraph.

“Conversation about Fed rate cuts and debate about larger government deficits continue alongside solid economic growth, which should be net-positive for investors’ risk appetite and may reintroduce inflation risk in the medium-term,” Pandl said.

“Grayscale Research expects Bitcoin to benefit in this risk-positive environment,” he explained.

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Bitcoin Nears $62K as Crypto Rebounds on Jobs Report and Rate Cut Hopes

October 4, 2024 Bitcoin.com

Bitcoin

On Friday, the global crypto market saw a boost in value, with bitcoin (BTC) climbing 2.29%, approaching the $62,000 mark at 9:30 a.m. EDT. Ethereum (ETH) joined the upward trend, gaining a more modest 1.6%, pushing toward the $2,400 level. Bitcoin and Ethereum Climb Following U.S. Jobs Report This rebound came on Oct. 4 after […]

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QCP Capital: Middle East Tensions Hit Bitcoin Harder Than Traditional Markets

October 2, 2024 Bitcoin.com

Bitcoin

In its Oct. 2 market analysis, QCP Capital highlights the effect of escalating Middle Eastern conflicts on traditional financial (tradefi) assets and the cryptocurrency market. According to QCP’s researchers, the market response has been muted in tradefi, but risk assets and digital currencies like bitcoin (BTC) faced more substantial losses. QCP Researchers Analyze Crypto Market […]

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Bitcoin drops to $63K, fails to rebound after Fed hints at future interest rate cuts

September 30, 2024 Coin Telegraph

Bitcoin drops to K, fails to rebound after Fed hints at future interest rate cuts

Bitcoin Analysis

Bitcoin surprised traders by opening the week in the red, and the Federal Reserve’s announcement about future rate cuts failed to reverse the downtrend.

Bitcoin opened the week with a sell-off to $63,000, and the intra-day trend was not impacted by United States Federal Reserve Chair Jerome Powell’s statement that additional rate cuts were part of the Fed’s plan. Despite the correction, Bitcoin price remains on track to close Q3 with positive returns.

On Sept. 30, Bitcoin (BTC) fell from a high of $65,634, dropping approximately 4% to an intraday low of $63,049, according to data from Cointelegraph Markets Pro and TradingView. At the time of publication, Bitcoin price was exchanging hands at $63,344, down 3.6% over the last 24 hours.

BTC/USD hourly chart. Source: TradingView

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Bitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highs

September 29, 2024 Coin Telegraph

Bitcoin Price

Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.

Bitcoin (BTC) price is on the verge of a notable trend change in its weekly and monthly timeframe chart. On both timeframes, a close above $65,000 sets a higher high and breaks the trend of lower highs which has defined BTC’s price action fo the past 6 months.

BTC/USDT weekly chart. Source: TradingView

Prior to this week’s rally above $66,000, the crypto market had been suffering from narrative exhaustion but a new set of catalyst have led traders to believe Bitcoin price is ready to embark on the next leg higher.

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CME Fedwatch Favors Half-Point Cut Ahead of FOMC Meeting

September 28, 2024 Bitcoin.com

bitcoin.com

In just 40 days, the U.S. Federal Open Market Committee (FOMC) will gather to decide whether the central bank will lower the benchmark interest rate. This pivotal moment occurs two days after the 2024 U.S. Election Day. As it stands, CME futures data suggests that a half-point reduction is currently viewed as more probable than […]

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Bitcoin Tops $66K as Inflation Cools, $9.67M in Shorts Liquidated

September 27, 2024 Bitcoin.com

Bitcoin

Bitcoin prices continued climbing this week, reaching an intraday peak of $66,456 per unit at 10:35 a.m. ET on Friday, marking a 2.4% boost against the U.S. dollar today and a solid 5% gain over the past seven days. Bitcoin Jumps to $66,456 Following U.S. PCE Report On Friday, Sept. 27, 2024, bitcoin crossed the […]

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Crypto Will Continue To Rally Hard Amid Fed Rate Cuts, Says Coin Bureau’s Guy Turner – But There’s a Catch

September 26, 2024 The Daily Hodl

Coin Bureau

A widely followed crypto analyst says that the digital assets industry will continue to thrive despite the Federal Reserve cutting interest rates. In a new video update, Guy Turner, the host of Coin Bureau, tells his 2.52 million YouTube subscribers that small-cap stocks and crypto assets will continue to surge as the Federal Reserve continues […]

The post Crypto Will Continue To Rally Hard Amid Fed Rate Cuts, Says Coin Bureau’s Guy Turner – But There’s a Catch appeared first on The Daily Hodl.

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