Odds of 50bps Fed rate cut surge as Bitcoin remains stable at $58k
Federal Reserve rate cut odds leap to 41% amid strong market performance.
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The global crypto market cap is $2.07 trillion, with a 24-hour volume of $56.37 billion. The price of Bitcoin is $58,491.13, and BTC market dominance is 56.3%. The price of Ethereum is $2,371.97, and ETH market dominance is 13.9%. The best-performing sector is Cannabis, which gained 91%. The Crypto Fear & Greed Index is currently Extreme Fear (32).
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This fluctuation is worth watching closely because the difference between the current interest rates and the 2-year Treasury yield is wider than during the Dot-Com Bubble and the 2008 Financial Crisis. Historically, such conditions have led to significant correction of 50 BPS, so the Fed’s actions in the coming week could set the tone for the next market phase.
Yesterday, we delved deep into market analysis:
https://open.substack.com/pub/chartscope/p/the-calm-before-the-bull-run?r=1gn5e3&utm_medium=ios