Fri, September 20, 2024 at 11:57

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some interesting news about Ethereum and other digital assets following the recent Federal Reserve rate cut.

  • 
• Annie

  • Oh, that sounds intriguing!😊 Could you tell me more about the rate cut?

  
• 

  Kang-hoon

  • Certainly.

  • This week, the Federal Reserve cut rates by 50 basis points.

  • This decision was made during the FOMC meeting and is seen as a bullish catalyst for cryptocurrencies, including Ethereum.

  • 
• Annie

  • A 50 basis point cut?

  • That's significant!

  • How is this expected to impact Ethereum and other digital assets?

  
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• 

  Kang-hoon

  • Crypto analyst Michal van de Poppe believes that this rate cut will increase investor interest in Ethereum and decentralized finance (DeFi) projects.

  • He suggests that ETH might start to outperform Bitcoin.

• Annie

  • Interesting!

  • So, ETH could potentially break out against Bitcoin?🤔

  
• 

  Kang-hoon

  • Yes, that's correct.

  • Van de Poppe mentions that the likelihood of more rate cuts in the coming months will make ETH and DeFi more attractive, leading to higher inflows in ETFs and more interest in yield.

• Annie

  • That sounds promising for ETH investors.

  • What about Bitcoin?

  • How is it performing?

  
• 

  Kang-hoon

  • At the time of writing, Bitcoin is trading at $62,885, which is up nearly 4% in the last 24 hours.

  • This indicates a bullish trend for Bitcoin as well.

• Annie

  • Wow, Bitcoin is doing well too!

  • What about ETH/BTC?

  • How is that trading?

  
• 

  Kang-hoon

  • ETH/BTC is currently trading at 0.03923 BTC, which is approximately $2,466.

  • It has seen a 1.63% increase on the day.

• Annie

  • That's good to hear.

  • Do you think this bullish trend will continue for both Bitcoin and Ethereum?

  
• 

  Kang-hoon

  • Van de Poppe believes that a bullish trend has already begun for Bitcoin, Ethereum, and DeFi applications.

  • The rate cuts are expected to further fuel this trend.

• Annie

  • So, overall, would you say this news is a positive development for the crypto market?

  
• 

  Kang-hoon

  • Yes, I would.

  • The rate cuts are likely to increase investor interest and inflows into the crypto market, making it a bullish development for Ethereum, Bitcoin, and DeFi projects.

• Annie

  • Thank you, Kang-hoon.

  • This has been very informative!😊

  
• 

  Kang-hoon

  • You're welcome, Annie.

  • Always happy to help!

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.