{"id":135856,"date":"2024-08-20T10:23:00","date_gmt":"2024-08-20T07:23:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135856"},"modified":"2024-08-20T10:23:57","modified_gmt":"2024-08-20T07:23:57","slug":"bitcoin-and-other-cryptocurrencies-register-gains-in-anticipation-of-interest-rate-cuts","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-and-other-cryptocurrencies-register-gains-in-anticipation-of-interest-rate-cuts\/","title":{"rendered":"Bitcoin and Other Cryptocurrencies Register Gains in Anticipation of Interest Rate Cuts"},"content":{"rendered":"
After trading around $56,000 on August 16, BTC<\/a><\/strong> has rallied 3.6% in the past 24 hours, reaching as high as $61,000 before returning to $60,850 at the time of writing. Despite these gains, Bitcoin remains in the trading range it has fluctuated in for most of the year, struggling to reach new highs.<\/p>\n Prices of other cryptocurrencies also rose on Tuesday, with Ethereum<\/a><\/strong> gaining 2.2% to $2,681.<\/p>\n SOL<\/a><\/strong> rose 2.6%, and other altcoins such as XRP<\/a><\/strong>, BNB<\/a><\/strong>, ADA<\/a><\/strong>, DOGE<\/a><\/strong>, and MATIC<\/a><\/strong> increased between 2.7% and 7%.<\/p>\n Investor sentiment has improved with the growing belief that the Federal Reserve may lower interest rates in September, with traders expecting a 25 basis point cut, according to CME FedWatch data.<\/p>\n This week\u2019s focus is on Federal Reserve Chairman Jerome Powell\u2019s upcoming speech at the Jackson Hole Symposium on Friday. While Powell is unlikely to explicitly signal a rate cut, he is expected to offer more positive comments, especially as recent data has shown cooling inflation in the U.S.<\/p>\n Lower interest rates typically benefit risky and speculative assets, including cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin’s value has rallied in recent hours, reflecting broader gains in risk-sensitive markets as speculation grows that the Federal Reserve may start cutting interest rates in September.<\/p>\n","protected":false},"author":7,"featured_media":101554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24,27],"tags":[270,72,258,110,271,243,223],"coin_category":[],"class_list":["post-135856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-bitcoin","tag-altcoins","tag-bitcoin","tag-bnb","tag-doge","tag-ethereum","tag-federal-reserve","tag-xrp"],"acf":[],"yoast_head":"\n
<\/p>\nRead More:<\/h5>\n \n
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