Barclays: Bitcoin could rise again with interest rate cuts.

Positive Comments About Bitcoin from Barclays

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

Expectations for Interest Rate Cuts

According to CME FedWatch data, the probability of a 25 basis point interest rate cut in December is hovering above 67 percent. This situation could create a positive recovery in Bitcoin and the overall crypto market following Powell's signal for an interest 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 are currently cautious after a recent drop to around 85,200 dollars and expect to establish a new base in the 90-96 thousand dollars range.

Observations on the Fed's Interest Rate Policies

Nick Timiraos from the Wall Street Journal stated that the Fed's decision on interest rate cuts would not occur "unless Powell is pushing for it." Additionally, it is known that the October Consumer Price Index (CPI) data will not be published, and the November CPI data will be released on December 18.

Current Situation 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. Additionally, the trading volume has increased by 45 percent over the last 24 hours, indicating growing interest among investors.