Donald Trump

Bitcoin

Dogecoin

President Donald Trump

<figure class="wp-block-image aligncenter size-large">
 <img src="https://coincu.com/wp-content/uploads/2024/09/On-Black-13-1024x576.jpg" alt="Bitcoin drops 2.6% ahead of the Federal Reserve’s first rate cut in four years, as political events continue to affect cryptocurrency prices." class="wp-image-282855">
 <figcaption class="wp-element-caption"> 
 </figcaption>
</figure>   
<p><strong>Key Points:</strong> </p>   
<ul class="wp-block-list">
  
 <li>Bitcoin loses 2.6% ahead of the first interest rate cut from the Federal Reserve in over four years.</li>   
 <li>Investors await Fed Chair Jerome Powell's guidance and the "dot plot" from the upcoming press conference.</li>   
 <li>Ongoing political events, including the assassination attempt on Trump, have affected Bitcoin's price in the near term.</li> 
</ul>   
<p><a href="https://coinmarketcap.com/currencies/bitcoin/">Bitcoin</a> fell 2.6% on Monday, trading at $58,470 as of 10:41 a.m. in Singapore. Markets are preparing for the Federal Reserve's first interest rate cut in over four years. Smaller tokens like Ethereum and Dogecoin also lost as investors await more details about the rate cut, which is expected later in the week.</p>   
<h2 class="wp-block-heading" id="fed-to-cut-rates-and-effect-on-bitcoin">Fed to Cut Rates and Effect on Bitcoin</h2>   
<p>The first U.S. rate cut since 2020 usually presages looser financial conditions, suitable for riskier assets such as cryptocurrencies. But for now, the focus will be on the rate cut, a set of fresh economic projections, Powell's news conference, and perhaps most importantly for investors, the "dot plot," which gives a sense of future interest rate changes.</p>   
<p>Sean McNulty, a director of trading at Arbelos Markets, opined that " the cut is less important than the signalling during the press conference and the release of the updated dot plot." With volatility already priced in from the options market, Powell's dovish tone would determine Bitcoin's outperformance.</p>   
<h2 class="wp-block-heading" id="political-developments-driving-bitcoin-s-movements">Political Developments Driving Bitcoin's Movements</h2>   
<p>Political developments are also infringing upon Bitcoin's short-term price movement. Over the weekend, former U.S. President Donald Trump survived another assassination attempt at his West Palm Beach golf course. Trump's involvement with crypto, most notably using digital assets for campaign funding, piqued leverage on the former U.S. president's political fortunes and Bitcoin's performance.</p>   
<p>This development replicates a similar surge witnessed in July after there was an assassination attempt on Trump when speculations were that his chances for re-election had gone up.</p>   
<figure class="wp-block-table">
 <table class="has-luminous-vivid-orange-color has-text-color has-link-color has-fixed-layout">
  <tbody>
   <tr>
    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this <a href="http://coincu.com/">website</a> is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
   </tr>
  </tbody>
 </table>
 <figcaption class="wp-element-caption"> 
 </figcaption>
</figure>

Bitcoin Dips as Markets Anticipate FED Rate Cut Decision

Table of Contents

Coincu

Other articles published on Sep 16, 2024

3 Worst Altcoins To Sell Ahead of Next Bull Run

5 Solana Rivals That Could Explode in September!

Crypto Ownership in the U.S. Is 2.75x Higher Than NFL Game Attendance

Binance's Changpeng 'CZ' Zhao Release Schedule Unveiled: Details

Ripple (XRP) Rallies Since September 6, Approaching $0.60 Resistance

Ethereum Price Prediction: ETH Plummets 5% As FOMC Rate Decision Nears, And This GambleFI ICO Clo...

Join our free newsletter for daily crypto updates!