Barclays: Bitcoin May Rise Again with Rate Cuts

Positive Comments from Barclays on Bitcoin

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

Expectations for Interest Rate Cuts

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

Bitcoin Price Analyses

Analysts predict that if positive developments like spot Bitcoin ETFs, whale movements, and options purchases continue, Bitcoin could rise above 90,000 dollars. Market participants expect a cautious decline to 85,200 dollars before establishing a new base in the 90-96 thousand dollars range.

Observations on Fed's Interest Rate Policies

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 Additionally, it is known that the October CPI data will not be published, and the November CPI data will be announced on December 18.

Current Situation of Bitcoin

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