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.
Lower interest rates and accelerating crypto adoption are spurring more financial institutions to try Bitcoin-backed lending.
Financial institutions are foraying into Bitcoin-backed lending as Bitcoin (BTC) adoption gains steam among investment managers and fiat interest rates tighten, Ledn, a Bitcoin-backed lending platform, told Cointelegraph on Sept. 25.
Institutional investors have poured billions of dollars into spot BTC exchange-traded funds (ETFs) after United States regulators cleared the cryptocurrency funds for trading in January.
“[M]ajor institutions are now going beyond ETFs to focus on Bitcoin-backed lending,” Ledn said.
JPMorgan Chase sees the possibility of the Federal Reserve making another significant rate cut in November, possibly by 50 basis points. The bank, which predicted this week’s half-point cut, believes further reductions are likely if the job market weakens. While some other Wall Street firms have adjusted their outlooks, JPMorgan remains confident in its forecast, […]
Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.
Bitcoin rallied above $61,000 following the United States Federal Reserve’s decision to cut interest rates by 50 basis points. The Fed’s decision to cut rates for the first time since 2020 is a move long predicted by crypto traders, and most anticipate Bitcoin and the wider cryptocurrency market to benefit from the policy reversal.
Data from Cointelegraph Markets Pro and TradingView followed BTC’s price action as it reacted to the rate cut decision even as the market awaited accompanying commentary from Fed Chair Jerome Powell.
BTC/USD 15-minute chart. Source: TradingView
The Federal Reserve is expected to begin lowering its benchmark interest rate in September.
Speaking at the annual Jackson Hole Symposium, Federal Reserve Chairman Jerome Powell sent his strongest signal yet that interest rate cuts are on the immediate horizon. The price of Bitcoin (BTC) rallied past $63,000 on the news, and analysts think further gains are expected when the Fed begins cutting rates.
Leena ElDeeb, a researcher at exchange-traded product issuer 21Shares, explained that previous interest rate cuts were good for the price appreciation of digital assets, as investors with cheaper access to loans take invest in risk-on asset classes. In a statement to Cointelegraph, the analyst gave a specific example of a previous rate cut at the beginning of the Covid-19 pandemic:
ElDeeb qualified her statements by explaining that while past performance is not a guarantee of future results, the March 2020 interest rate cuts could provide a benchmark to compare the likely effects of the impending rate cut on crypto markets.
In a detailed discussion with Kitco News, Claudia Sahm, founder of Sahm Consulting and chief economist at New Century Advisors, shared her insights on the U.S. economy. Despite rising recession concerns, Sahm emphasized that the current labor market still shows strength, suggesting the economy may not yet be in a recession. Claudia Sahm on U.S. […]
Former Boston Fed President Eric Rosengren has outlined the potential for two interest rate cuts this year. He cited recent Federal Open Market Committee (FOMC) discussions and stabilizing inflation trends. “I am expecting we’ll probably get some more favorable inflation numbers over the next couple of months,” he opined. ‘I Don’t Think We’re Down to […]
A widely followed crypto analyst says that investors shouldn’t expect altcoin season until the Federal Reserve makes its next move. In a new video update, crypto strategist Benjamin Cowen tells his 802,000 YouTube subscribers that altseason likely won’t happen until the Fed loosens monetary policy and cuts interest rates. According to Cowen, in the last […]
The post Don’t Expect Altseason Until This Happens, According to Crypto Analyst Benjamin Cowen appeared first on The Daily Hodl.
Investor Steve Eisman, who took short positions against the housing market leading up to the 2008 crisis, believes that it would be ill-advised for the Fed to start cutting interest rates. In a new CNBC interview, Eisman says the US economy looks solid on the back of healthy consumer spending. According to the “Big Short” […]
The post ‘Big Short’ Investor Says Interest Rate Cuts Would Be a Waste Now, Praises Fed for Engineering Soft Landing appeared first on The Daily Hodl.
