Analyst Says Federal Reserve Rate Cuts May Drive Cryptocurrency Prices Up

According to ChainCatcher, IG analyst Chris Beauchamp stated that if the Federal Reserve resumes interest rate cuts on Wednesday and signals a loosening of policy, cryptocurrency prices may rise. If the Federal Open Market Committee hints that this week’s meeting is the beginning of more rate cuts, crypto assets will benefit. Data from the London Stock Exchange Group shows that the money market has already priced in a 25 basis point cut on Wednesday. About 81% of IG clients are bullish on Bitcoin, and 83% of clients are bullish on Ethereum, anticipating price increases.