What Does FOMC Mean For Bitcoin Price? Will Crypto Keep Going Up?
The Federal Reserve's rate cuts have strengthened the crypto market
The Federal Reserve's recent rate cuts have strengthened the crypto market.
The Fed's Federal Open Market Committee's latest quarter-point rate cut has ignited a speculative wildfire, especially among cryptocurrencies.
With the federal funds rate target nestled between 4.5% and 4.75%, the Fed is aiming to navigate a cooling labor market and mitigate inflation without causing economic shockwaves.
Bitcoin recently hit new highs but analysts predict heightened volatility.
Significant whale activity is also driving Bitcoin's price movements, with two major players scooping up large BTC amounts. These whales, or big-time investors, are key influencers in market trends.
Recent data shows that two whales bought 1,910 BTC worth $145.16 million on Binance in 24 hours.
Fed moves and Trump's cabinet picks will dictate Bitcoin's price story in the coming months. However, the current setup hints at Bitcoin breaking $100,000 before 2025.
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