Analysts say Fed rate cuts may push cryptocurrency prices to rise

IG analyst Chris Beauchamp said cryptocurrency prices could rise if the Fed restarts interest rate cuts on Wednesday and releases signals of easing policy. Crypto assets will benefit if the FAP hinted that this week's meeting is the beginning of more rate cuts. The money market has digested expectations of a 25 basis point rate cut on Wednesday, according to data from the London Stock Exchange Group. About 81% of IG customers hold a long position on Bitcoin, and 83% of customers hold a long position on Ethereum, expecting price increases.