Mixed Signals from Fed Stir Crypto Market, Bitcoin Leads Gains

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Cryptodnes2024/10/15 17:18

By:Cryptodnes

The crypto market is seeing varied price movements as traders react to mixed signals from the Federal Reserve and await key economic data.

On Monday, Minneapolis Fed President Neil Kashkari mentioned that future interest rate cuts could be limited, based on economic trends.

Meanwhile, Fed Governor Christopher Waller advised caution, hinting that any upcoming rate reductions may not match the recent half-point cut in September—a move that’s not typical for the Fed’s usual quarter-point changes.

Bitcoin is on the rise, gaining 2% over the last 24 hours and more than 5% for the week, with October traditionally being a strong month for the cryptocurrency.

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Other assets, such as Bitcoin Cash and MEW , have posted double-digit gains, while some coins like Toncoin and Avalanche faced losses.

As investors gear up for economic updates and inflation insights, the impact on monetary policy remains a focal point for the market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The Block•2024/10/15 18:42