Follow us on:

cc_icon

Post: Bitcoin and Altcoins Display Strength: US Equities Market Perform Well as Bitcoin Recovers and Fed Signals Rate Cuts

Bitcoin and Altcoins Display Strength: US Equities Market Perform Well as Bitcoin Recovers and Fed Signals Rate Cuts

Key Points:

  • Bitcoin and select altcoins are showing strength at the start of the week.
  • Trader focus is shifting to more than just spot BTC ETF flows.
  • United States equities markets are performing well, supported by strong economic growth and signs of slowing inflation.
  • Bitcoin’s price rose 1.08% last week, displaying a strong recovery after falling to $38,500.
  • Data from the FedWatch Tool suggests that the Federal Reserve will hold rates in their January meeting but start cutting rates from their March meeting.

Bitcoin and Altcoin Strength:

Bitcoin and select altcoins are starting the week on a positive note, indicating strength in the cryptocurrency market. Traders are moving beyond focusing solely on spot BTC ETF flows, suggesting increased interest and activity in a broader range of cryptocurrencies.

US Equities Performance:

United States equities markets have been performing well, supported by strong economic growth and signs of inflation slowing down on an annual basis. The S&P 500 Index climbed 1.06% last week, inching closer to the significant milestone of 5,000. This positive performance in the equities market aligns with Bitcoin’s rise, demonstrating a correlation between the two asset classes.

Bitcoin’s Recovery:

Bitcoin’s price showed a strong recovery last week, rising 1.08% despite a dip to around $38,500. The significant buying activity at lower price levels indicates solid support and bullish sentiment among investors.

Monetary Policy and Risky Assets:

The Federal Reserve’s monetary policy, as indicated by data from the FedWatch Tool, suggests that rates will be held in the January meeting but may be cut from their March meeting onwards. An expansive monetary policy typically benefits risky assets, including cryptocurrencies, signaling a positive outlook for the market.

Hot Take:

The strength displayed by Bitcoin and select altcoins at the start of the week, coupled with the positive performance of equities markets, reinforces the notion of a bullish sentiment in the overall market. The recovery in Bitcoin’s price highlights the resilience and buying power of investors, and the anticipated monetary policy from the Federal Reserve adds further support to the cryptocurrency market.


Original article: https://cointelegraph.com/news/price-analysis-1-29-spx-dxy-btc-eth-bnb-sol-xrp-ada-avax-doge

Leave a comment

Your email address will not be published. Required fields are marked *

Recent Posts
Social Media
Twitter
Email
Telegram
Facebook
Offers
CheekyCrypto Membership Platform
Hardware Wallets
Bitget
Swissborg
Plutus Card