Quick Facts:
- 1️⃣ The lower-than-expected US CPI data released on Saturday fueled hopes that the US Fed will cut rates yet again.
- 2️⃣ This anticipation has helped pump Bitcoin back to $115K after hovering around $110K in the past several days.
- 3️⃣ Should a rate cut happen, expect more demand for the best crypto to buy, like Bitcoin, Hyper, and Snorter Token.
Happy days are here again as the potential for a new round of rate cuts in the US helped push Bitcoin ($BTC) back to the $115K level.
Based on several trusted analysts, the US Federal Reserve is expected to cut rates further, which should make borrowing cheaper and fuel appetite for high-risk assets like cryptocurrencies.
Due to this, we can expect increased demand for some of the best crypto to buy at the moment, including Bitcoin Hyper ($HYPER), as well as the Snorter Token ($SNORT) presale, which closes today.
Low US CPI Fuels Rate Cut Outlook
Bitcoin returned to $115K today after spending most of last week hovering around $110K. This is one of the most evident signs yet that traders are anticipating a rate cut from the US Fed during its upcoming meeting on October 29.
Fueling this expectation is the 3% increase in the US Consumer Price Index (CPI) revealed by the US Bureau of Labor Statistics on Saturday. This was below the expected CPI of 3.1%, which could
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Author: Bogdan Patru
