Bitcoin (BTC) briefly broke above the $43,000 level in the last 24 hours, as the Federal Reserve signaled interest rate cuts for next year. NewEdge Wealth senior portfolio str...
Anticipating a slowdown in the economy and easier Fed monetary policy, investors have sharply bid down interest rates in the weeks leading up to this morning's numbers.
Traders expect the Fed to cut rates by 100 basis points next year, weakening the dollar and incentivizing risk-taking in crypto and traditional markets.
The minutes of the Nov. 1 Fed meeting may be outdated, given the post-meeting softness in economic data and resulting expectations for renewed interest-rate cuts in 2024.
The crypto market has bounced back this year, with bitcoin (BTC) doubling in value amid spot ETF excitement and dovish Federal Reserve expectations. Morgan Creek Capital Manag...