Stabilize

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-begins-to-stabilize-below-all-time-highs/" data-wpel-link="internal">Bitcoin Begins to Stabilize Below All-Time Highs</a><br></p>
<p style="text-align: justify"><strong>Bitcoin (BTC)</strong> has finally started to stabilize at higher levels, hovering just below its all-time high. The good news is that strong signals indicate a return is underway after a prolonged nightmare in the last two quarters. This week’s JOLTS data exemplifies this trend, highlighting the need for the Fed to lower interest rates more aggressively as inflation declines.</p> 
<h2 style="text-align: justify" id="u-s-data-and-cryptocurrencies">U.S. Data and Cryptocurrencies</h2> 
<p style="text-align: justify">The challenging phase appears to be over. The Fed has commenced interest rate cuts, and unless a significant event occurs, rates are expected to continue decreasing. At this stage, the critical factor is the pace of these rate reductions. The market anticipates a total of 100 basis points in cuts over the year, and current data supports this as the Fed likely continues to lower rates to reach a neutral interest rate in multiple meetings next year.</p> 
<h2 style="text-align: justify" id="key-economic-indicators">Key Economic Indicators</h2> 
<p style="text-align: justify">What’s the problem? The concern is that the neutral interest rate may rise as inflation declines, which could halt rate cuts. The Personal Consumption Expenditures (PCE) data serves as a leading indicator for the Fed’s monitored inflation metrics, making today’s release crucial. Additionally, the unemployment claims data reflects the employment landscape, adding significance to the figures.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-402383 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/fedwatch.png" alt="" width="730" height="348"></p> 
<p style="text-align: justify">What do we need? A decrease in PCE combined with unemployment claims exceeding expectations would bode well for <a href="https://en.coin-turk.com/popular-altcoins-among-turkish-investors/" data-wpel-link="internal">cryptocurrencies</a>.</p> 
<ul style="text-align: justify"> 
 <li>PCE Reported: 2.1% (Expectation: 2.1%, Previous: 2.2%)</li> 
 <li>Unemployment Claims Reported: 216K (Expectation: 230K, Previous: 227K)</li> 
</ul> 
<p style="text-align: justify">While the unemployment figure falling short of expectations is not entirely positive, the PCE being in line with expectations can be interpreted favorably.</p> 
<p>The post <a href="https://en.coin-turk.com/bitcoin-begins-to-stabilize-below-all-time-highs/" data-wpel-link="internal">Bitcoin Begins to Stabilize Below All-Time Highs</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Begins to Stabilize Below All-Time Highs

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