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Analysts: If the Fed restarts interest rate cuts, cryptocurrency prices may rise

Source: ChainCatcher
According to ChainCatcher, IG analyst Chris Beauchamp said in a report that if the Fed restarts interest rate cuts on Wednesday and sends a signal that policy will be further easing in the future, cryptocurrency prices may rise. He noted that if the FAP Committee suggests that this week’s meeting is just the beginning of more rate cuts, crypto assets should continue to be one of the main beneficiaries. The money market has fully digested the expectation of a 25 basis point cut on Wednesday, according to data from the London Stock Exchange Group. In addition, about 81% of IG customers hold a long position on Bitcoin and expect its price to rise; 83% of customers hold a long position on Ethereum.
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