“NEXT weeke expectioned see the first fed roate cut in one year.”, – WRITE: www.coindesk.com
MOSTLY FORGOTTten As Investor Capital Moved Elsewhere Were the Two Largest Cryptos, But Both Are Catching Bids Late in the Us Trading Day on Friday.
Bitcoin BTC$ 116.254.70 IS NOW AHEAD 2% OVER The PAST Two Hours to $ 116.600 and ETHER (ETH) IS UP 5% TO $ 4.650. Both Prices Are The Highest Since the Wild Action in the Third Week in August That Followed Federal Reserve Chairman Jerome Powell’s Jackson Hole Speech.
In that speech, Powell Unexpectedly Flipped from Staunch Monetary Policy Hawk to Dove, Saying The Weakening Labor Market DesERVED MORE MORE ATTENTION THAN The STUBbornly High Inflation Rate.
Interest Rate Traders Reacted Quickly, Sending Odds of A September Rate Cut from from Somewhat Possible to A Sure Thing, with Only The Size – 25 Basis Points O 50 – Left For DEBATE.
In the hours following Powell, Bitcoin Flew from About $ 112,000 to More than $ 117,000 But that paled in comparison to the action in Ether.
Below $ 4,300 AHEAD OF THE SPEECH, ETH SOAED more than 16% IN LESS THAN 48 Hours, Nearly Cracking $ 5,000 for The First Time Ever.
Within Hours after, Thought, The Bull Move Fell Apart, and More, With Eth Sliding All The Way to About Its Pre-Speech Price and Bitcoin Tumbling All The Way Down to $ 107.000 by.
NEXT Week Finally Brings The Much Talked About Fed Meeting, and Traders Universally Expert The US Central Bank to Trim Its Benchmark Fed Feds Rate by 25 Basis Points to 4%.
That would be a massive jump as the Betting Platform Raised Funds at Just A $ 1 Billion Valuation Just Back in June.
- Polymarket Considered A $ 9 Billion Valination in A Potential Deal, Sources Told The Information.
- The CFTC Recently Cleared Polymarket to Operate in the US After A Prior Ban.
- Rival Kalshi’s Valuation Has Also Grown to $ 5 Billion, Accounting To Report, Highlighting Momentum in Predict Markets.
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