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Bitcoin could surpass US$110,000 with interest rate cut, says Santiment
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THE Bitcoin (BTC) is about to reach new historic highsdriven by expectations of interest rate cuts in the United States. On Sunday, December 16, 2024, the asset price reached US$ 106 thousand, setting a new record.
According to analysis company Santiment, the cryptocurrency market could react even more positively if the Federal Reserve (Fed) confirms a 25 basis point cut next Wednesday, December 18th.
According to CME Group research, there is a 96% probability that the Fed will reduce the interest rate to the range of 4.25% to 4.50%. Only 4% of experts believe that the rate will be maintained between 4.50% and 4.75%.
This scenario creates an optimistic environment for Bitcoin, which has already reacted favorably to recent economic data, such as the Consumer Price Index (CPI), which indicated annual inflation of 2.6% to 2.7%.
Bitcoin at US$ 110 thousand
Analysts at Santiment say that expectations of a rate cut are directly linked to the performance of the cryptocurrency market.
Furthermore, the company points out that the cuts favor the liquidity of the economy, which historically boosts risky assets, such as Bitcoin.
The impact of lower interest rates is not limited to Bitcoin. The Nasdaq 100, an index that brings together large US technology companies, surpassed 20 thousand points for the first time, reflecting market optimism.
The correlation between the performance of cryptocurrencies and US stock markets suggests that Bitcoin will continue to benefit from positive movements in the traditional market.
This upward trend, which gained strength with the victory of Donald Trump in the elections, could be accelerated by the Fed’s decision this week.
With a favorable economic scenario and global attention focused on the crypto market, Bitcoin is about to write another chapter in its history, consolidating itself as one of the most relevant assets in the financial world.
Bitcoin could surpass US$110,000 with interest rate cut, says Santiment
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Bitcoin could surpass US$110,000 with interest rate cut, says Santiment
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Bitcoin could surpass US$110,000 with interest rate cut, says Santiment
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Bitcoin could surpass US$110,000 with interest rate cut, says Santiment
