Crypto Markets Await Fed’s Decision: Bitcoin, Ripple and Bitstamp in Focus
Crypto analysts are closely watching the Federal Reserve’s upcoming interest rate decision, believing it could significantly impact cryptocurrency prices.
On the Thinking Crypto podcast, the host highlighted how a rate cut could urge investors to take on more risk, potentially boosting crypto investments.
Financial analysts predict a Fed interest rate cut of either 50 or 25 basis points. Such a move could trigger an “easy money cycle,” making borrowing cheaper and potentially fueling a rise in the price of risky assets like cryptocurrencies.
A BTC Dump Could Precede the Next Bull Run
While anticipating a bullish crypto market, the analyst also predicted increased volatility among the digital assets that could lead to massive dumps leading to price dips ahead of the expected bull run. Bitcoin could dip below $50,000, perhaps even reaching $46,000, before rebounding.
However, several indicators, including the Pi Cycle Top Indicator, suggest that Bitcoin’s current bullish cycle isn’t over yet. The analyst pointed out that Bitcoin’s 100-day moving average has not yet crossed over its 350-day moving average, a signal that the upward trend may continue.
Meanwhile, it is worth noting that Bitcoin slowed down after a quick rally earlier in the year that led to the flagship crypto reaching a new all-time high. Ever since, BTC has returned to what many analysts consider a regular pace, with the expectation of a post-halving rally. Nonetheless, BTC’s recent trend has aligned with the macrocycle, with Bitcoin moving almost at the same pace as the mainstream assets.
Bitstamp’s XRP Ledger Integration: A Boost for XRP?
While Bitcoin’s future remains a focal point, other cryptocurrencies are also drawing attention. Bitstamp’s new derivatives exchange will leverage the XRP Ledger, a move that analysts believe could significantly affect XRP’s price.
Read also :XRP Surges Past Long-Term Resistance: Could It Finally Outshine Ethereum?
Robinhood, Bitstamp’s new owner, is looking to expand its crypto presence globally. The company plans to collaborate with Ripple through an XRP Ledger integration and is nearing the final stages of implementation. According to Bitstamp’s head of partnership, Eva Gartner, this process will allow them to connect with some of the top 30 commercial banks, facilitating their entry into the crypto services market.
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