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CryptoIntelligence 2024-08-31 01:38:18

Analyst Predicts BTC Rally: ‘We Are Finally on the Cusp of a Rate-Cutting Cycle’

Bitcoin approached the $60,000 mark around the Wall Street open on August 29, buoyed by U.S. macroeconomic data that didn’t shake market stability significantly. Trading data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin reached local highs of $60,845 on Bitstamp, reflecting a 3% increase for the day. This performance aligned with U.S. jobless claims and GDP figures, which largely met expectations, although jobless claims were slightly higher than anticipated. The economic data had minimal effect on market projections regarding upcoming financial policy shifts. Predictions from the CME Group’s FedWatch Tool suggested that the market is expecting a 0.25%

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