Cardano Pumps 16%, Bitcoin Could Pop to $100K After Fed Rate Cut
Majors cryptocurrencies are surging as a bullish backdrop gives traders reason to set a $100,000 price target for BTC in the near term.
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Majors cryptocurrencies are surging as a bullish backdrop gives traders reason to set a $100,000 price target for BTC in the near term.
Investors say a Trump administration will favor DeFi applications and tokenomics more, given the family’s backing of World Liberty Finance – riling up DeFi-focused trades.
Analysts expect a 0.25% rate cut this week, which has historically benefited assets like BTC by diluting the dollar’s value and pushing investors towards alternative investments.
“There is going to be a media frenzy about Elon and how his aggressively backing Trump and the ‘Department of Government Efficiency’ narrative could have been a deciding factor for a Trump win,” one trader said.
BTC fell amid a transfer of $2.2 billion worth of the asset by defunct exchange Mt.Gox from its storage to new wallets.
A majority of that stash, or nearly 30,400 BTC, was sent to “1FG2C…Rveoy” and 2,000 BTC was moved to “15gNR…a8Aok” after first being sent to a Mt. Gox cold wallet.
The most popular Polymarket bet has seen a flurry in trades ahead of Election Day, contributing to a surge of Harris’ winning shares on the betting platform.
A tracker for market sentiment reached “extreme greed” levels on Thursday, which has historically preceded market corrections.
Instead of being scared by the nonstop nature of crypto markets, investors should see it as an exciting opportunity to grow their portfolios — especially with the help of a skilled crypto advisor who can guide you through the complexity.
Strong net flows into bitcoin exchange-traded funds indicate robust institutional demand as BTC dominance rise further at the expense of ether, one trader noted.