Market Predictions: Impact of Fed’s Rate Cuts on SPY and Bitcoin (E92)

This week we have SPY at 671, reaching all-time highs, an impressive milestone that has caught the attention of many investors. With no resistance in sight and strong support forming at 659, the upward momentum appears to be quite robust. In parallel, Bitcoin is trading at 124k, making a significant comeback that signifies renewed interest among traders and investors, especially as interest rates are showing signs of coming down. The financial landscape suggests we are expecting another rate cut to occur this month, which could further fuel the market’s bullish sentiment. Analysts are predicting that another 25 basis point cut is on the horizon, with an additional cut also anticipated in November. As we monitor this week’s developments, investors should definitely be on the lookout for Powell’s meeting minutes and his forthcoming speech, as they are likely to provide valuable insights into future monetary policy. Given all these factors, do you think we could see a bigger rate cut than anticipated, potentially influencing market movements even further?