Bitcoin bounces on Fed rate cut with bigger rally ahead predicted
Crypto markets rebounded after the Fed’s third rate cut this year, with analysts predicting a larger bounce following the typical post-cut pattern.
Crypto markets saw a slight pickup after the US Federal Reserve’s widely expected rate cut on Wednesday, and a larger bounce could be next, analysts say.
The central bank has executed three consecutive interest rate cuts totaling 0.75% over a three-month period from September to December.
Despite being fundamentally bullish for crypto in the long term, each cut triggered short-term sell-offs, following a classic “buy the rumor, sell the news” pattern, the onchain analytics firm Santiment said on Thursday.
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