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The Federal Reserve instituted a 50-point rate cut, with promising liquidity conditions for a Bitcoin price spike. However, risks abound with cuts this severe, and crypto profits are far from guaranteed. Global liquidity is very likely to increase, but this might not equal Bitcoin inflows. Rate Cuts, Liquidity and Bitcoin The Federal Reserve has decided on a 50-point rate cut, and Bitcoin’s price has been soaring. Given these and broader market trends, many in the community expect a Bitcoin bull…

Despite a modest uptick in Bitcoin prices this September, BlackRock’s iShares Bitcoin Trust (IBIT) has experienced sluggish inflows. It netted just $6.76 million for the month. While IBIT has been stagnant, other funds faced outflows. Bitcoin ETFs Recorded $155 Million in Outflows BlackRock’s Bitcoin ETF – IBIT saw varied trading volumes. It recorded an inflow of $15.82 million on September 16. However, this gain was offset by an outflow of $9.06 million a week earlier, culminating in a modest net…

Former US President Donald Trump recently made headlines when he purchased burgers using Bitcoin at PubKey, a bar in Greenwich Village, New York City. Trump claimed this was the historic first time any US president had used cryptocurrency for a transaction. The event, held before a campaign rally, highlights Trump’s recent shift toward embracing digital assets as part of his 2024 campaign strategy. PubKey Co-Owner Sees Trump’s Transaction as Bitcoin’s ‘Coming of Age’ Moment Trump completed the transaction, totaling $998.70,…

Bitcoin (BTC) reacted to the Federal Open Market Committee (FOMC) meeting on Wednesday, which showed policymakers resorted to a 50 (0.50%) basis points (bps) interest rate cut for September. This decision marks the beginning of an easing cycle, with more rate cuts to come in 2024. FOMC Cuts Interest Rates, Bitcoin Jumps Over $60,000 The Federal Reserve has cut interest rates by 50 basis points, the first reduction since early 2020. Financial markets, including crypto investors, had been expecting this…

Dogecoin started a fresh increase from the $0.0985 support against the US Dollar. DOGE could gain pace if it clears the $0.1085 resistance. DOGE price is eyeing an upside break above $0.1085. The price is trading above the $0.100 level and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.1030 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could rally if it clears the…

Ethereum price started a fresh upward move above the $2,335 resistance. ETH is now aiming for more upsides above the $2,420 resistance. Ethereum started another increase from the $2,280 resistance. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,310 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,420 resistance to continue higher in the near term. Ethereum Price…

XRP price is again moving higher above $0.580. The price could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels. XRP price remained supported near the $0.5700 zone. The price is now trading above $0.580 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance at $0.5720 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the…

Bitwise Chief Investment Officer Matt Hougan dubbed Ethereum (ETH) the ‘Microsoft of blockchains’, adding that none of the smart contract platform’s challenges are existential. Ethereum Has Challenges, But None Of Them Are Existential In a recent memo titled ‘A Contrarian Bet on Ethereum’, Hougan highlighted the tumbling ETH/BTC trading pair, indicating the weakening Ethereum price versus Bitcoin (BTC). At press time, the trading pair is exchanging hands at 0.038, its lowest level in three years. Compared to some of the…

Bitcoin price started another increase above the $60,500 resistance. The Fed reduced rates by 0.50%, sparking a bullish wave in BTC toward $62,500. Bitcoin is gaining pace above the $60,200 resistance zone. The price is trading above $60,500 and the 100 hourly Simple moving average. There was a break above a short-term declining channel with resistance at $60,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend gains if it stays above the…