98% Chance sey Fed go cut 25bps rate on Oct 29 boost Crypto
Polymarket dey show say e get 98% chance say Fed go cut rate by 25bps for meeting wey dey Oct 29, and only 1% chance say dem go cut plenty or no change. The trading volume wey dey behind the 25bps rate cut bet don increase well well because of weak private sector jobs data and risk say US government go shutdown. Evercore ISI talk say delay for data and growth wahala dey make people believe say dem go cut rate two times before year end. Bank of America Securities still talk sey Fed fit stop dem dey reduce balance sheet if dem cut by 25bps. Crypto traders suppose dey watch these developments well well cos e fit bring liquidity plus rally for risk assets including the big cryptocurrencies.
Bullish
High chance say Fed go cut rate by 25bps mean say liquidity go increase plus borrowing cost go reduce, wey normally dey support risk-on assets like cryptocurrencies. For short term, di announcement fit spark buying momentum across main coins as traders dem go reposition for easier monetary conditions. For long term, consecutive cuts plus di end of balance sheet runoff fit keep bullish sentiment, encourage money flow into digital assets. But traders suppose dey watch market volatility around di decision and data releases wey fit change wetin people dey expect.