Crypto bulls brace for rout as Fed reacts to weak jobs data

Bitcoin and Ether are clawing higher as traders bet the Federal Reserve’s looming rate cut will unleash a fresh bullish ￰0￱ aligns with the US labor market struggling with slowing economic ￰1￱ though the cumulative crypto market cap dropped marginally, BTC hovers around $115K. Analysts suggest that futures markets are pricing a 96% chance of a 25 basis point cut and a small possibility of a surprise half-point ￰2￱ digital assets market awaits the decision as BTC’s seven-day call/put skew saw a recovery to go flat from a negative 4%. This signals fewer bets on a sharp drop. However, Ethereum dipped by 2% but remains in the range of $4,600.

BTC hits $115K as crypto market awaits Fed updates “All eyes are on this Wednesday’s FOMC,” Emir Ibrahim, Analyst at Zerocap, noted, pointing to futures markets with 3-4% hoping for a surprise 50 bp ￰3￱ reflects the Bureau of Labor Statistics ’ massive job revision, erasing 900,000 jobs from prior ￰4￱ non-farm payroll reports for the past four months are another factor asking for the ￰5￱ the same time, headline inflation came up 2.9% year-over-year in ￰6￱ is running up by 3% over the last days, while the altcoin season gains ￰7￱ is trading at an average price of $115,025 at press ￰8￱ 24-hour trading volume jumped 43% to hit $45 ￰9￱ signals that traders are moving their ￰10￱ biggest altcoin, Ether, posted 78% gains over the past 90 ￰11￱ is trading at an average price of $4,533 at press ￰12￱ remains an outlier of interest with constructive price action fueling talk of a potential digital asset treasury, added ￰13￱ price has spiked by 28% over the last 30 days to regain $236 ￰14￱ analyst noted that if risk assets strive to perform, then it sets up a constructive outlook for the market in ￰15￱ value locked is trending higher, stablecoin issuance has hit new highs, and capital is rotating into high-activity ￰16￱ have priced in not only a cut this week, but a series of reductions ahead in ￰17￱ Fed is under pressure to balance its dual mandate, and traders expect Powell to deliver the first step on ￰18￱ 2021, Powell has used inflation control as cover, and a more cautious tone from here could stall the current ￰19￱ smartest crypto minds already read our ￰20￱ in?

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