Analyst: If the Federal Reserve resumes interest rate cuts, cryptocurrency prices may rise

ChainCatcher news, according to Jinshi reports, IG analyst Chris Beauchamp stated in a report that if the Federal Reserve resumes interest rate cuts on Wednesday and signals further easing of policies in the future, cryptocurrency prices may rise.

He pointed out that if the Federal Open Market Committee suggests that this week's meeting is just the beginning of more rate cuts, then crypto assets should continue to be one of the main beneficiaries. Data from the London Stock Exchange Group shows that the money market has fully priced in the expectation of a 25 basis point rate cut on Wednesday.

Additionally, about 81% of IG clients hold a bullish stance on Bitcoin, expecting its price to rise; 83% of clients hold a bullish stance on Ethereum.