Crypto investors are awaiting pivotal inflation data as Federal Reserve meeting minutes could indicate the potential for a rate cut in December. Recently, the Fed slowed its pace of interest rate increases, which has generally supported risk assets like cryptocurrencies. The likelihood of a December rate cut remains uncertain, with Fed futures indicating only a 43% chance of rates being held steady. Any reduction in interest rates typically makes risk assets more attractive compared to safe-haven investments. Market analysts suggest that the Fed's cautious approach will depend on economic conditions, particularly after the recent elections. Furthermore, the release of the U.S. Commerce Department's personal consumption expenditures (PCE) price index is highly anticipated, as a softer inflation report could enhance Bitcoin’s growth prospects, with potential targets beyond $100,000. Conversely, increasing bearish bets in the futures market imply concerns about downward price pressures in the crypto sector. Overall, the next few days will be crucial in determining the short-term sentiment of the cryptocurrency market.

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