(You can now subscribe to our(You can now subscribe to our ETMarkets WhatsApp channelSince the fed rate cut in September, Bitcoin has resumed its upward momentum to match its pre-halving movement. However, it is largely expected to be only a 25 basis point interest cut compared to the previously believed 50 bps, as governmental reports have revealed that the US inflation has been reduced near the central bank’s aim of 2%. Few oscillators also suggest that Bitcoin price dynamics, if supported through rate cuts and the US Presidential Election, may directly translate into making new record high levels and significantly enhanced regulatory clarity over the crypto ecosystem. Long-term futures will only be decided after the global investor community aligns with the Federal Reserve’s decision, which is expected to be a 25 basis point cut on the benchmark interest rates. However, any decision will depend on the several reports the FOMC committee reviews before the meeting, and investors should tread carefully till then.

Source: Economic Times October 18, 2024 10:41 UTC