Federal Reserve Bank of Boston's President Collins recently indicated that it might soon be appropriate to ease interest rates. For Bitcoin..
the Federal Reserve could cut rates by as soon as 18 September, potentially triggering a significant bull run in the markets.
However, alarm bells have been ringing in some quarters. Donald Trump, for instance, has raised some concerns, warning that the U.S might be heading towards a severe recession, one similar to the 1929 crash, while also predicting the possibility of a world war soon.This boost follows XRP’s settlement with the SEC, which involved a $125M fine. As expected, this has driven XRP’s price up, with expectations of further gains on the charts.
Such periods of low rates can last for extended times, but the FED’s recent hints at possible rate cuts could soon alter the market dynamics, potentially driving changes in these funding rates.Finally, macro charts have been showing some positive signs again. For instance, the weekly candle returned to the low point of a 2.5-year cup & handle pattern.
Thus, after the FEDs hinted at rate cuts, an upward trend is inevitable. The market has been held back long enough, and this final upward move could soon happen, with the candle closing in two days.Lennox is a professional financial market analyst who's enthusiastic about blockchain, cryptos, and web3. He started blogging about cryptos back in 2019 and has since never looked back.
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