Recent economic indicators create an optimistic backdrop for cryptocurrencies, particularly in light of expectations for Federal Reserve interest rate cuts.
Bitcoin Price Surge
Bitcoin (BTC) has reached a critical level at $113,500, maintaining support at $112,500. Despite favorable data today, the market lacks exuberance due to the core Producer Price Index (PPI) being higher than in previous months. Analysts emphasize the absence of a shock surge.
PPI Data and the Final Quarter
While tariffs do not trigger significant inflationary spikes, the job market remains poor, indicating that the Fed should act quickly to cut rates. Current FedWatch data shows expectations for a 50 basis point cut have risen to over 10%.
Trump's Comments on Monetary Policy
Trump made a statement at 16:08: > "Just announced: No Inflation!!! A 'too late' Powell must cut the interest rate immediately. Powell is a total disaster, clueless!!!"
With anticipated interest rate cuts and possible altcoin ETF approvals, cryptocurrencies are positioned for significant gains in the final quarter of the year.
