BTC Price Revisits $96k On Fed Rate Cut Expectations

The crypto realm is a space of tough competition and growing volatility. Each day starts with new shifts in the bull market.

The crypto market continues to experience significant shifts as the bull market progresses. While BTC price reclaims its previous highs and Ripple gains strength, DTX Exchange emerges as a standout performer with an exceptional ROI.

BTC Price Surges Past $96,000 Amidst Anticipation for December Fed Rate Cut

Economic data released on Wednesday bolstered expectations for a Fed rate cut in December. The Core PCE Price Index remained unchanged month-over-month in October at 0.3%, aligning with September's increase. However, year-on-year, the index rose to 2.8% in October from 2.7% in September.

Despite indicating sticky inflation, the chances of a Fed rate cut rose on Wednesday, boosting demand for US BTC-spot ETFs and driving up BTC price. According to the CME FedWatch Tool, the probability of a rate cut increased from 59.4% on November 26 to 64.8% on November 27.

BTC price closed 4.32% higher on Wednesday, reversing a 1% loss from Tuesday and reaching $95,883. Notably, BTC price movements are influenced by Trump's nominations and the market flows for BTC-spot ETFs.

Pro-crypto nominations for the SEC and CFTC Chairs are heightening anticipation for BTC to become a strategic reserve asset, which could further bolster BTC price and demand.

XRP Price Surges as Spot ETF Applications Signal Shift in Demand Dynamics

The potential emergence of an XRP-spot ETF market could substantially amplify demand for Ripple, driving it toward its January 2018 all-time high of $3.5505.

The US BTC-spot ETF market provides a precedent, with BTC price surging by 113%, advancing from $46,742 (January 11, 2024) to an all-time high of $99,318 (November 22, 2024).

Speculation about President-elect Donald Trump potentially appointing a pro-crypto SEC Chair has fueled expectations for an XRP-spot ETF market. Furthermore, investors are betting on the SEC withdrawing its appeal against rulings in the Ripple case, following SEC Chair Gensler's resignation announcement.

If the SEC withdraws its appeal, the court's ruling on the programmatic sales of XRP would set a crucial legal precedent. This could pave the way for an XRP-spot ETF market. In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP did not satisfy the third prong of the Howey Test.

On Wednesday, XRP price rallied by 5.17% to close at $1.4711, reversing a 1.17% loss from Tuesday. Notably, Ripple ended a four-day losing streak while tracking the broader crypto market, which gained 4.89%.

An SEC Chair favoring the conclusion of ongoing legal battles with crypt firms could propel XRP toward $2. However, Ripple must move through the November 23, 2024, high of $1.6299 to target the May 2021 high of $1.8171 and $2.

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This innovative approach, which combines TradFi and DeFi, makes DTX Exchange a standout project in the current market landscape. Built on the Ethereum and Solana protocols, the DTX token is currently priced at $0.10 during its fifth round, with nearly 80% of the tokens sold.

Once sold out, the price will increase to $0.12, offering a 20% return for early investors. Having already raised over $8,850,000 in presale, DTX Exchange is among the most hyped and promising investment opportunities in the market today.

Key Takeaways

BTC price recovers its lost momentum and crosses the $96,000 level once more. On the flip side, Ripple surges in tandem with XRP-spot ETF. However, after a 1021% surge, DTX Exchange is still unstoppable in this bull run. The platform raises over $8.85 million!

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