Lawmakers and crypto execs discuss BTC reserve, while crypto prices up as stocks go down on Fed’s rate decision today
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📈 Bitcoin trades above $117k - as crypto prices tick higher across the board.
📉 US equities soften - ahead of fed’s closely watched rate cut decision
💡 Analysts expect a 0.25% cut - but new Fed governor could spark dissent.
🏛️ US lawmakers and crypto executives meet - to discuss a potential Bitcoin reserve.
It’s an inverse setup this morning compared with yesterday. Crypto markets are broadly in the green while stocks are in the red, as investors wait for the Fed’s interest rate decision later today. Most analysts expect Jerome Powell and his team to cut rates by 0.25%, which would mark the first reduction since December last year. The move is already politically charged, with a new Fed governor, a White House economist, sworn in at the last minute on Monday. Some observers say this could create dissent within the board over how aggressive the cut should be.
Against this backdrop, Wall Street is turning cautious, but crypto markets have strengthened overnight. Bitcoin is trading above $117,000, with smaller-cap cryptocurrencies also showing positive momentum. The gains aren’t dramatic, but there’s a clear uptick across the board.
On the regulatory front, US lawmakers and crypto executives met in Washington yesterday to discuss the viability of a Bitcoin reserve, a sign that the policy debate around digital assets is gaining traction at the highest levels of government.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $4.01 trillion, up 0.48% from this time yesterday.
🟠 Bitcoin (BTC) ↗️
Price: $117,243 up 0.26% in the last 24 h.
Daily high: $117,292
Daily low: $114,866
📈 S&P 500 ↘️
SPY is currently down about 0.13% since yesterday’s close.
📈 Nasdaq 100 ↘️
The Nasdaq 100 is down about 0.08% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 51/100, in Neutral.
*Data is correct as at 17 September, 07:56 GMT.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
