Fed Rate Cut Hopes Dey Fuel Altcoin Rally as Bitcoin Dey Flat
Late Tuesday for US trade, Treasury Secretary Scott Bessent talk say make Fed cut rate by 50 basis points for September. Dis talk make altcoin dem rally sharply for crypto market. Investors don mostly expect say na 25bp move go happen. But di chance say Fed go cut 50bp make risk assets dey increase. Ethereum lead di gains, jump almost 9% pass $4,600—di highest for almost five years. Cardano, Solana and Litecoin gain about 8%, XRP rise 3.5%. Bitcoin keep around $120,000 as traders move money enter high-beta coins. Di rally follow July US CPI data wey match estimates. But na di speculation of Fed rate cut spark speculative demand. Softer dollar and new bets on accommodative Fed make altcoin trading volume shi shi. As expectations for Fed rate cut reach peak, di altcoin rally show how rate policy dey make crypto market waka up and down. Traders suppose dey watch rate cues wey dey change for market moves wey fit happen soon.
Bullish
Speculation say Fed go cut rate don make altcoins rally strong, Ethereum don jump almost 9% and e don boost Cardano, Solana, Litecoin and XRP but Bitcoin still dey flat. For short term, traders dey shift to high-beta assets because of new rate-cut bets, wey dey make bullish momentum strong and trading volume rise. For long term, real Fed decision and economic data go decide if e go last: if cut sure, rally fit extend, but if Fed back am, e fit cause people to collect profit and market go dey shaky. Overall, hope say rate go cut dey make altcoins look good under how market be now.