RATE Group | Bitcoin Calm ahead of Federal Reserve’s Rate Cut Verdict
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Bitcoin Calm ahead of Federal Reserve’s Rate Cut Verdict

30 Oct Bitcoin Calm ahead of Federal Reserve’s Rate Cut Verdict

Posted at 13:13h in Bitcoin News by

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Bitcoin held to a stable range as investors wait for the Federal Reserve to take a final call on introducing another interest rate cut.

The benchmark cryptocurrency was trading at $9,171.54 as of 10:13 UTC, down 2.75 percent from the market open. At its session high, bitcoin attracted a bid of $9,431.36 on the San Francisco-based Coinbase cryptocurrency exchange. That was still more than 10 percent lower than bitcoin’s weekend high of $10,540.59, showing that the market – at best – has digested the bullish sentiments arising from China’s President Xi Jinping’s encouraging comments on the blockchain technology last Friday.

bitcoin, cryptocurrency

Bitcoin steady after weekend’s supersonic rally | Image credits: TradingView.com

Bitcoin is now waiting for more upside factors, one of them being the Federal Reserve’s call on whether or not it should introduce more rate cuts.

95% of Economists Predict Rate Cut

The US central bank will likely introduce a third consecutive rate cut after concluding…

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