Alright, the Federal Reserve’s next move on interest rates? It’s like waiting for that one guy in the office who never shows up on time.
Everyone’s got their bets placed, but nobody’s quite sure what’s gonna happen. Now, if the Fed decides to cut rates earlier than expected, Bitcoin could blast off toward $112,000.
That’s the magic number traders have been whispering about in the break room, and Carlo Pruscino from CMC Markets is the guy laying down the odds.
Market chaos
See, Pruscino’s saying if the Fed drops two rate cuts sooner than Wall Street’s betting on, Bitcoin won’t just tiptoe up, but it’ll sprint.
But there’s a catch, because right now, the Fed looks set to keep rates steady at 4.25% to 4.50% come June 18. 97.5% of market participants expect no surprises this time around.
So, what’s the deal? Why all the fuss about a rate cut?
Well, the Fed’s got plenty of data on the economy, but there’s a big question mark hanging over trade policies, thanks to the tariffs from the Trump administration. Remember those tariffs on steel and aluminum?
They got blocked, then unblocked, then doubled. It’s like the office printer that jams every other day, frustrating and unpredictable.
Pruscino points out that until there’s some clarity on these trade moves, the Fed’s hands are tied. And without that clarity, Bitcoin’s climb to $112K might stay just a dream.
Job market
Now, the US jobs report dropping on June 6. This is the big kahuna, the moment when the Fed and Bitcoin fans alike hold their breath.
If the jobs numbers come in strong, say, over 250,000 new jobs, it could throw a wrench in the rate cut plans.
That means Bitcoin might have to wait longer for its rocket ride. On the other hand, if the jobs report disappoints, well, that could be the green light for the Fed to slash rates and send Bitcoin to the Moon.
When ATH?
Oh, and don’t forget, Bitcoin already flirted with its all-time high at nearly $112,000 on May 22, before pulling back to around $102,800.
It’s like that one coworker who almost nails the presentation but fumbles at the end, tantalizing but not quite there. So, keep your eyes glued to the Fed’s decisions and that jobs report.
Because whether Bitcoin hits that $112K jackpot or gets stuck in the slow lane depends on these moves.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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