A few red candles ahead of tomorrow’s US interest rate decision
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📉 Crypto market cap down 0.53% overnight - Bitcoin flat, ethereum weaker.
💸 Futures markets price in 96% chance of a 0.25% cut - small chance of 0.5%.
📈 US equities open higher - despite fed uncertainty and us-china trade tensions
Crypto markets are mostly in the red this morning as the Federal Reserve meets tomorrow to decide whether to cut interest rates. At this stage, most investors see the cut as a done deal, and the real question is by how much Jay Powell and his team at the Fed will move. Could it be as much as a 0.5% slash? The CME FedWatch Tool shows futures markets pricing in a 96% chance of a 0.25% trim.
The total crypto market cap slipped 0.53% overnight, with Bitcoin (BTC) trading largely sideways while Ethereum (ETH) and others posted deeper losses.
Equities, meanwhile, seemed unfazed by both the Fed’s looming decision and ongoing trade tensions between the US and China. The broader US stock market opened higher, with the S&P 500 and Nasdaq 100 both up between 0.4% and 1%.
The key question now is whether tomorrow’s rate call becomes the catalyst some investors are expecting, or if it turns into a classic sell-the-news event.
In the markets…
🌍 Total crypto market cap ↘️
The global crypto market cap is approximately $4.01 trillion, down 1.08% over the past 24 hours.
🟠 Bitcoin (BTC) ↘️
Price: $115,881 down 0.26% in the last 24 h.
Daily high: $116,063
Daily low: $114,509
📈 S&P 500 ↗️
SPY is currently up about 0.47% since yesterday’s close.
📈 Nasdaq 100 ↗️
The Nasdaq 100 is up about 0.84% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 50/100, in Neutral.
*Data is correct as at 16 September, 07:28 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.
