Bloomberg: Traders are focusing on the Federal Reserve's interest rate cut decision

2024-12-18 09:02:09

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ChainCatcher news, according to Bloomberg, Bitcoin took a slight breather after first breaking through $108,000, as traders awaited the anticipated Federal Reserve interest rate cut decision and assessed the optimism brought by incoming President Donald Trump's support for cryptocurrencies.

Trump has promised to introduce friendly regulatory policies aimed at establishing the U.S. as a leader in the cryptocurrency space and supports the idea of creating a strategic national Bitcoin reserve. MicroStrategy is set to join the Nasdaq 100 index, which also adds to this optimism, as it opens up possibilities for the company to further profit from Bitcoin investments. The market widely expects the Federal Reserve to implement another 25 basis point rate cut on Wednesday, but the clarity of future policy direction has diminished due to strong U.S. economic growth and inflation risks stemming from Trump's broader agenda.

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