Barclays: Bitcoin could rise again with interest rate cuts.

Positive Comments on Bitcoin from Barclays

Barclays Research indicates that Fed Chairman Jerome Powell may be open to a 25 basis point rate cut. It is suggested that this possibility could provide the recovery that Bitcoin needs.

Expectations for Rate Cuts

According to CME FedWatch data, the probability of a 25 basis point rate cut in December is currently above 67 percent. This situation could create a positive recovery in Bitcoin and the overall cryptocurrency market with Powell signaling a rate cut.

Bitcoin Price Analyses

Analysts predict that if positive developments such as spot Bitcoin ETFs, whale movements, and option purchases continue, Bitcoin could rise above 90 thousand dollars. Market participants, however, are currently experiencing a cautious decline after reaching the 85,200 dollar level, anticipating a new base to be formed in the 90-96 thousand dollar range.

Observations on Fed's Interest Rate Policies

Nick Timiraos from the Wall Street Journal stated that the Fed's rate cut decision will not happen "unless Powell forces it." Additionally, it is known that the October CPI data will not be released, and the November CPI data will be announced on December 18.

Current Status of Bitcoin

In the last 24 hours, the price of Bitcoin has fluctuated around 86,700 dollars, with the lowest and highest values recorded at 85,404 dollars and 88,038 dollars, respectively. Furthermore, trading volume has increased by 45 percent in the last 24 hours, indicating increasing interest among investors.