Bitcoin (BTC) marks time as potential Fed rate cuts draw nearer

If one looks at the price action of Bitcoin (BTC) over the last three months or so it is pretty much a period of sideways ￰0￱ this be about to end as the US Federal Reserve potentially makes its first interest rate cut in just over a week’s time? A lagging US central bank about to cut? The next Federal Reserve FOMC meeting will take place on 17 ￰1￱ this meeting, Fed Chairman Jerome Powell will be expected to announce the first US rate cut for some period of ￰2￱ other major central banks are already well into their rate cut ￰3￱ to the Kobeissi letter on X, 88 global rate cuts have already taken place, potentially making 2025 the 3rd-fastest rate cutting cycle in ￰4￱ has cut 4 times, the Bank of England 3 times, and the Bank of Canada ￰5￱ Swiss National Bank is already back at 0%.

Ahead of the FOMC meeting, the CME Fedwatch tool illustrates a market expectation of around 90% for a 25 basis points cut, while there is a 10% outside chance of a 50 basis points ￰6￱ stock market guarantees even if rate cuts start in earnest However, even with all the market elation over the commencement of a potential rate cut cycle from the US central bank, it has to be borne in mind that when the first rate cuts began in previous historical cycles, this actually coincided with some big declines in the US stock ￰7￱ example, in the Dot-com bust, the S&P 500 fell 49% from the 2000 peak through to 2002, while the Great Financial Crisis saw the S&P 500 fall 57% from the 2007 peak to the 2009 ￰8￱ a similar thing happen this time?

One always needs to prepare for such an eventuality. $BTC price in new ascending channel) (green line). This could be a battle royale, and the outcome may decide whether this particular ascending channel will continue to ascend, or whether the price will break down through the bottom just as it seemed that the bulls had begun to get a head of steam up. $112,000 horizontal resistance level is the key