Crypto Traders Remain Skeptical About Potential Fed Rate Cut: Implications for Bitcoin (BTC) and Wall Street

• Recent weeks have seen a significant drop in digital asset prices, causing concern among traders and investors.
• Betting markets such as Polymarket and Fed fund futures provide insight into the current sentiment in the crypto market.
• There is a growing disparity in predictions about the Federal Reserve’s potential interest rate cuts, reflecting the market’s uncertainty.

Amidst falling digital asset prices, traders turn to betting markets for predictions on Federal Reserve’s interest rate cuts, revealing a sense of uncertainty in the crypto market.

Traders’ Predictions on Interest Rate Cuts

In March, traders on Polymarket, a decentralized prediction market platform, saw a 7% chance that the Federal Reserve would maintain steady interest rates through 2024. However, current predictions suggest a 38% chance that the Fed will not implement any rate cuts this year. This is a significant increase in pessimism compared to the 23% chance of zero rate cuts calculated by investment analysis firm Bianco Research.

Impact of Interest Rate Cuts on Crypto Market

Higher interest rates often devalue riskier assets like stocks and crypto, as their returns become less appealing compared t... Read the full article for FREE at COINOTAG!