The probability of interest rate cuts has soared to 89%! The three major cryptocurrencies are signaling a takeoff.
The traffic lights are all green, and the crypto market is about to welcome a macro tailwind!
The latest data from CME's Federal Reserve observation tool shows that the market is betting on a 25 basis point rate cut by the Federal Reserve in December, with the probability soaring to 89%, making the rate cut almost a foregone conclusion. Last night, the U.S. ADP employment data unexpectedly cooled, and this heavyweight news directly triggered a market shift, with traders rushing into risk assets, leading to a single-day surge of over 400 points in the Dow Jones. Bitcoin (BTC) quickly responded, rebounding nearly 2% in a single day, strongly returning to the $93,000 level.
This 'institutional-grade' asset rotation driven by macro changes is not a solo performance by BTC. Ethereum (ETH) and Binance Coin (BNB) have also entered institutional sight, with the three major cryptocurrencies gathering in the spotlight, and a new round of market momentum is about to unfold!
