Where next for Bitcoin? đŸ€”

The Fed's rate cut didn't rattle Bitcoin—leaving traders and analysts pondering where the cryptocurrency market would go next.

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📝 What you need to know

The dust has settled on the Fed’s eagerly awaited rate cut decision, and the outcome is
 well, not very much, actually. After dipping slightly following the announcement, Bitcoin began Thursday trading slightly up on the day, suggesting that the news was well and truly priced in.

So all eyes are now on where Bitcoin goes next, after long weeks of trading sideways. Analysts told Decrypt that they’re largely positive on its prospects, anticipating further rate cuts from Fed Chair Jerome Powell (and on Myriad, the prediction market launched by Decrypt's parent company DASTAN, the chances of there being just two rate changes in 2025 dropped markedly following Wednesday’s announcement).

Meanwhile, spot Bitcoin ETFs broke a seven-day streak of inflows Wednesday, in what analysts called a “healthy” rebalancing, while Bitcoin dominance slipped as traders rotated into altcoins—portending a near-term altcoin rally.

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