Hope for Fed Rate Cut Dey Fada: ETH Don Hit New High While BTC Dey Slide to 110K
For Friday, afta Fed Chair Powell talk say dem fit cut rate, BTC burst from $111K go $117K, and ETH plus BNB con also climb new high. Weekend come, market cool down: ETH still dey rally, hit $4,900, but BTC sharply drop to $110K. WSJ pesin Nick Timiraos talk say maybe September rate cut na once thing, no go be continuous cycle because Fed get internal wahala. Friday US GDP and core PCE data show core PCE rising, e increase inflation worry and fit delay more rate cut. Traders suppose dey watch economic release and Fed talk well well for sign about policy direction, and make dem adjust their position because market go fit shake.
Bearish
Di wan hope for rate cut we Timiraos highlight don spoil di bullish mojo. E be like March 2022 wen Powell talk say e go slow down di easing, BTC and ETH sharply comot road. Even as ETH reach record high, mixed signals about di future plan for money e easing fit make people sell their risk asset them. For short term, traders fit see plenty wahala for price movement and market go dey steady. For long term, market go depend on di coming GDP and PCE numbers. If inflation still dey, e fit make dem delay rate cut more, so crypto prices go still dey under pressure.