Cryptocurrencies regain relief from the expectation that the Federal Reserve (Fed) will be softer and will not raise interest rates.
The cryptocurrencies They regain relief this Tuesday, September 19, in the expectation that the Federal Reserve (Fed) will be softer and will not raise interest rates. In the last 24 hours, Bitcoin hits 4-week highs (August 30) and reaches US$27,400. Meanwhile, Ethereum advances 2.4% to US$1,600. Also notable is the rise in Solana (SOL) of more than 3%.
By exceeding US$27,000, the cryptocurrency leader is already at the lost level when the Securities and Exchange Commission (SEC) decided to extend the deadline to decide on the Bitcoin ETF cash.
Bitcoin rebounds: why is it
Some experts point out that much of the blame for this rebound may lie with Fed that will decide what will be the next step in your monetary politicsalthough everything points to a pause.
In this sense, the consensus seems to be quite clear that the Fed will not raise rates further interest rates this year: facing November, they grant a 69% chance of another break (+13% from last week) and for December, analysts believe there is a 58% chance that rates will stay as they are right now (+3% from last week).
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“If there are new increases, the BTC could be favored in the short term due to the rise of dollar. However, if the bank refrains from signaling further increases, this could be the catalyst BTC needs for a new bullish breakout,” explains James Harte, market analyst at TickMill Group.
However, that does not mean that this meeting is without interest, since the market is focusing on central bank forecasts. The Fed He stressed that each decision is open until the last moment. However, and despite repeated warnings from officials and the latest mixed macroeconomic data, the consensus is clear that today there will be no raises and now they are debating what the central bank’s statement will bring.
Source: Ambito
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