{"id":638618,"date":"2024-08-30T00:30:19","date_gmt":"2024-08-30T00:30:19","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=638618"},"modified":"2024-08-29T17:57:17","modified_gmt":"2024-08-29T17:57:17","slug":"bullish-bitcoin-news-us-federal-reserve-set-to-implement-three-rate-cuts-this-year","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/bitcoin-news\/bullish-bitcoin-news-us-federal-reserve-set-to-implement-three-rate-cuts-this-year\/","title":{"rendered":"Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year"},"content":{"rendered":"<p><span style=\"font-weight: 400\">As global economic uncertainty looms, Bitcoin (BTC) has experienced increased volatility and is struggling to maintain its footing above critical resistance levels lost over the past month. The largest cryptocurrency on the market remains in a precarious position, but emerging signs could bode well for the BTC price and the broader crypto ecosystem.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Fed\u2019s Rate Cuts Signal Hope For Bitcoin Price Recovery<\/span><\/h2>\n<p><span style=\"font-weight: 400\">One promising development is the possibility of further interest rate cuts by the US Federal Reserve (Fed) later this year. <\/span><a href=\"https:\/\/x.com\/DeItaone\/status\/85532291\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">According <\/span><\/a><span style=\"font-weight: 400\">to market expert Walter Bloomberg, Goldman Sachs Asset Management anticipates that the Fed will implement a series of three consecutive 25-basis point rate cuts in September, November, and December.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gurpreet Garewal, a macro strategist at Goldman Sachs, noted in a recent report that a weak labor market, as indicated in the upcoming August jobs report, could even prompt the Fed to adopt a more aggressive approach, potentially starting with a 50-basis point cut.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-forecast-4-reasons-bullish-q4\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Forecast: Expert Reveals 4 Reasons To Be Bullish On Q4<\/a><\/div>\n<p><span style=\"font-weight: 400\">Currently, money markets are pricing in a total of 100 basis points of rate cuts for the year, as reported by Refinitiv. This outlook aligns with <\/span><a href=\"https:\/\/www.ktsl888.com\/breaking-news-ticker\/bitcoin-price-breaches-62000-market-reacts-to-powells-speech\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">comments <\/span><\/a><span style=\"font-weight: 400\">made by Fed Chair Jerome Powell last week, who adopted a dovish tone, suggesting the central bank is open to further rate reductions to address signs of cooling in the labor market. Such a stance is generally seen as positive for risk assets, including Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Anticipation of the rate cut had an immediate impact on the Bitcoin price, which surged to a one-month high of $65,000 late last week. However, continued <\/span><a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/crypto-liquidations-1-billion-bitcoin-crashes-52000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">volatility <\/span><\/a><span style=\"font-weight: 400\">caused the BTC price to fall back to $57,900 on Wednesday, but it has since recovered and is trading above $60,000.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Analyst Warns Of Potential Price Corrections Ahead<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Despite Bitcoin&#8217;s recent rebound above $60,200 on Friday, analysts are warning investors to keep an eye out for further price declines as the <\/span><a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/trump-floats-bitcoin-payments-as-solution-to-35-trillion-us-debt-crisis\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">largest cryptocurrency <\/span><\/a><span style=\"font-weight: 400\">still shows no signs of strong catalysts.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Crypto analyst Ali Martinez has <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/88317838\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">identified <\/span><\/a><span style=\"font-weight: 400\">a sell signal on the Bitcoin hourly chart using the TD Sequential indicator, suggesting that another price correction could be on the horizon.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/crypto-bull-run-hinges-on-these-factors\/\" target=\"_blank\" rel=\"noopener \">The Entire Crypto Bull Run Hinges On These Factors: Analyst<\/a><\/div>\n<p><span style=\"font-weight: 400\">With this in mind, the $58,000 level has already proven to be a major support level for the cryptocurrency this week. If breached, the other major <\/span><a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-hashrate-nears-record-levels-amidst-price-decline-details\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">support <\/span><\/a><span style=\"font-weight: 400\">level in the near term would be the $57,200 level, as seen on the daily BTC\/USDT chart below.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, should this scenario play out, the token&#8217;s overall macro range would remain intact as this has been part of BTC&#8217;s price consolidation between $57,000 and $70,000 for the past six months following the correction from all-time highs of $73,7000.\u00a0<\/span><\/p>\n<figure style=\"width: 1815px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/pjTKldfB\/\" alt=\"Bitcoin\" width=\"1815\" height=\"858\"><figcaption class=\"wp-caption-text\">The daily chart shows BTC&#8217;s price consolidation between $57,000 and $70,000 over the past six months. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from DALL-E, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As global economic uncertainty looms, Bitcoin (BTC) has experienced increased volatility and is struggling to maintain its footing above critical resistance levels lost over the past month. The largest cryptocurrency on the market remains in a precarious position, but emerging signs could bode well for the BTC price and the broader crypto ecosystem. Fed\u2019s Rate Cuts Signal Hope For Bitcoin Price Recovery One promising development is the possibility of further interest rate cuts by the US Federal Reserve (Fed) later this year. According to market expert Walter Bloomberg, Goldman Sachs Asset Management anticipates that the Fed will implement a series of three consecutive 25-basis point rate cuts in September, November, and December.\u00a0 Gurpreet Garewal, a macro strategist at Goldman Sachs, noted in a recent report that a weak labor market, as indicated in the upcoming August jobs report, could even prompt the Fed to adopt a more aggressive approach, potentially starting with a 50-basis point cut. Related Reading: Bitcoin Forecast: Expert Reveals 4 Reasons To Be Bullish On Q4 Currently, money markets are pricing in a total of 100 basis points of rate cuts for the year, as reported by Refinitiv. This outlook aligns with comments made by Fed Chair Jerome Powell last week, who adopted a dovish tone, suggesting the central bank is open to further rate reductions to address signs of cooling in the labor market. Such a stance is generally seen as positive for risk assets, including Bitcoin. Anticipation of the rate cut had an immediate impact on the Bitcoin price, which surged to a one-month high of $65,000 late last week. However, continued volatility caused the BTC price to fall back to $57,900 on Wednesday, but it has since recovered and is trading above $60,000.\u00a0 Analyst Warns Of Potential Price Corrections Ahead Despite Bitcoin&#8217;s recent rebound above $60,200 on Friday, analysts are warning investors to keep an eye out for further price declines as the largest cryptocurrency still shows no signs of strong catalysts. Crypto analyst Ali Martinez has identified a sell signal on the Bitcoin hourly chart using the TD Sequential indicator, suggesting that another price correction could be on the horizon. Related Reading: The Entire Crypto Bull Run Hinges On These Factors: Analyst With this in mind, the $58,000 level has already proven to be a major support level for the cryptocurrency this week. If breached, the other major support level in the near term would be the $57,200 level, as seen on the daily BTC\/USDT chart below.\u00a0 However, should this scenario play out, the token&#8217;s overall macro range would remain intact as this has been part of BTC&#8217;s price consolidation between $57,000 and $70,000 for the past six months following the correction from all-time highs of $73,7000.\u00a0 Featured image from DALL-E, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":638620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,485,656,679,755,1119,1122,1144,78790,6664,14690,1558,54512],"class_list":["post-638618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-chart","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-technical-analysis","tag-btc","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-news","tag-cryptocurrency","tag-defi"],"acf":[],"yoast_head":"\n<title>Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year<\/title>\n<meta name=\"description\" content=\"Amid economic uncertainty, Bitcoin has recorded notable volatility, while struggling to maintain its footing above key resistance levels.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/bullish-bitcoin-news-us-federal-reserve-set-to-implement-three-rate-cuts-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bullish Bitcoin News? 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. 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