CandleFocus

50 bps Fed Rate Cut Results in Bitcoin Price Pump as BTC Surges to $62,000 Price Level, Bullish Scenario Play in Order

The US Federal Reserve announced a rate cut of 0.25%, which was slightly lower than expected. This led to a bullish reaction in the crypto market, with Bitcoin's price surging above $62,000. Analysts had predicted this outcome, with one analyst accurately predicting a 0.5% rate cut when the probability was below 2%. However, based on historical data, rate cuts of this magnitude have led to stock market declines and recessions. The market expects further rate cuts in November and December, totaling 1%, which could lead to even more volatility in both the crypto and stock markets.

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