Bloomberg Terminal Update

U.Today reports that Bloomberg terminal shared data on the X platform indicating the chances of a high interest rate have exceeded 50%.

Upcoming FOMC Meeting

On September 18, the FOMC will hold a scheduled meeting to decide on potential interest rate reductions.

Interest Rate Cut Probabilities

CME FEDWATCH data reveals a:
– 63% probability of a 50 basis point rate cut
– 37% probability of a 25 basis point rate cut

Expectations of rate cuts announced by the Federal Reserve earlier this year have significantly influenced Bitcoin’s price surges. Recently, on Friday, Bitcoin rose nearly 5%, reaching the $60,000 price level.

Bitcoin Price Movement

However, in the past 24 hours, Bitcoin experienced a 3.22% decline, dropping from $60,000 to the $58,560 range.

Analyst Predictions

Many analysts anticipate that an approaching Fed interest rate cut may support Bitcoin’s rally and potentially push prices to higher levels, contingent on other bullish scenarios playing out.

This article was originally published on U.Today