Bitcoiners perk up as odds of a December Fed rate cut almost double
Some Bitcoiners are speculating that the significant surge in the odds of a Fed rate cut in December may lead to Bitcoin finding a price “bottom here for now.”
Bitcoiners were noticeably more upbeat on social media today as the odds of a US Federal Reserve rate cut in December nearly doubled compared to just a day earlier.
Some crypto market participants are speculating that this could be the catalyst Bitcoin (BTC) needs to halt the asset’s downward trend.
“Let’s see if that’s enough to find a bottom here for now,” crypto analyst Moritz said in an X post on Friday, as Bitcoin’s price trades at $85,071, down 10.11% over the past seven days, according to CoinMarketCap.