Crypto Market on Edge: Will Fed's Rate Cut Propel Bitcoin and Altcoins?

Crypto Market Awaits FOMC; How Will US Fed Rate Cut Impact Bitcoin & Altcoins?

The crypto market is on edge as it awaits the Federal Open Market Committee (FOMC) meeting, with expectations of a 25 basis points rate cut by the U.S. Federal Reserve next week. According to CoinGape, this anticipated monetary policy shift could potentially boost prices for Bitcoin and other altcoins. The upcoming decision is seen as pivotal in shaping investor sentiment within the digital asset space.

This anticipation comes amid concerns over economic data that have been weighing heavily on traders' minds. However, recent job reports showing weaker employment growth seem to support hopes for further rate cuts this year—one expected next week and another possibly in December. Such moves are typically favorable for riskier assets like cryptocurrencies, stocks, and gold due to increased investment appetite driven by lower interest rates.

Ethereum (ETH) Flashes Possible Rebound Signal

A popular crypto analyst has identified potential bullish signals for Ethereum using the Tom DeMark Sequential Indicator on its four-hour chart, according to The Daily Hodl. This indicator suggests possible trend reversals based on previous closing prices of candles or bars.

The analysis indicates that if ETH maintains above $2,480—a critical support level—it may experience an upward movement soon after trading at around $2,516 recently while gaining more than 3% over seven days despite being relatively flat daily against BTC's performance path laid out earlier last month predicting price paths up towards higher levels.

Market Shockwave Ahead? Ethereum Could Crash Over 60%, Analyst Says

An ominous prediction from veteran trader Peter Brandt warns about significant downside risks facing Ether amidst current bearish trends observed across various metrics analyzed via TradingView’s platform insights shared online today regarding ongoing corrections experienced throughout broader markets lately impacting many top-performing tokens negatively overall. This includes major players like Solana, which saw a decline, alongside others similarly affected during the past twenty-four hours.

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