Markets Firm on Expected Fed Cut, Though ‘Sell-the-News’ Fears Linger
The crypto market is in a buoyant mood ahead of Wednesday’s Federal Reserve interest-rate decision.
The overwhelming expectation is that the Fed will cut rates by 25 basis points, a move seen as favorable to risk assets like bitcoin .
BTC is trading at $92,300 having risen by 2.3% in the past 24 hours. Ether outperformed bitcoin with a 7% gain.
Interest-rate decisions often create volatile trading sessions and, while a 25 bps rate cut can be perceived as bullish, there is a scenario where traders decide further gains are unlikely and sell once the news is released, effectively pushing prices down and trapping others in overpriced long positions.
Bitcoin has formed a trading range between $88,000 and $94,500 over…
