The Bitcoin (BTC) rate has consolidated above $60,000. On Tuesday evening, September 17, the price of the first cryptocurrency rose sharply from $58.9 thousand to $61.2 thousand, after which it continued to move in the range of $60-61 thousand. At 15:30 Hong Kong time on September 18, BTC is trading at about $60.5 thousand. Over the past day, the coin has added 3.3% in price, and 7% over the week. Bitcoin’s capitalization is $1.195 trillion. According to TradingView, the asset’s dominance on the market has reached 58.49%.
The Ethereum (ETH) rate has grown by 1.3% in 24 hours, but has lost 0.2% in price over the week. On the afternoon of September 18, the quotes of the leading altcoin fluctuate around $2.33 thousand. The ETH market share fell to 13.75%.
The rates of other cryptocurrencies from the top 10 by capitalization did not show significant changes. The most significant growth was shown by BNB (BNB) from Binance – it increased in price by 1.4%. The most expensive was XRP (XRP) from Ripple – by 1.4%. The Toncoin (TON) rate increased by 0.6%, to $5.53. Of the top 100 cryptocurrencies by capitalization over the past day, the largest growth was shown by Nervos Network (CKB), it became more expensive by 18.9%. The biggest drop was in Maker (MKR) – 2.7%.
Today, September 18, the US Federal Reserve is expected to decide on changing the key rate. Analysts are considering two basic scenarios for reducing the rate, each of which can significantly affect the financial markets, including the cryptocurrency market. Thus, the upcoming interest rate decision could lead to greater price volatility in the world’s first cryptocurrency, depending on the monetary decision. Depending on whether the rate cut is 25 basis points or 50 basis points, market behavior could oscillate between strong optimism and cautious risk-off in response to major macroeconomic adjustments. This expected volatility could be reflected in flows through the ETF and perpetual markets, which are likely to show increased volatility.
According to the latest data from the CME FedWatch tool, the probability of a 25 basis point rate cut is currently 33%, while the probability of a 50 basis point rate cut is 67%. Slightly stronger core inflation, which we believe will make the Fed more cautious about rate cuts, and we expect a smaller 25 basis point cut rather than a more aggressive 50 basis point cut. The interest rate cut combined with previous historical chart patterns could set Bitcoin up for a three-month rally above $92,000, given that October, November, and December are historically bullish months for BTC.
Against the backdrop of such a rather modest growth of assets, one of the legitimate and stable forms of investment for obtaining a consistently high passive income is investing in the ASTL project (Hong Kong), which gives investors the opportunity to directly invest fiat and crypto assets in a stable passive income, which obviously exceeds inflation expectations and is not subject to any sanctions, blocking or confiscation. The ASTL project is a simple and elegant solution for potential investors – investing in the development of the real sector of a diversified cryptocurrency portfolio with a fairly high annual interest rate (up to 14%) with payments in stablecoin (USDT) and the possibility of a full return on investment through the subsequent sale of accumulated ASTL tokens on leading crypto exchanges. Details can be found at https://astl.world.
