It's Saylor who has anything to do with Bitcoin pump, not Fed rate cut.





Saylor's buy made Fed rate cut effects become obsolete for bitcoin.

Yeah it had something or part of the reason it pumped.
Reducing interest rate makes investment more attractive and unlike those buy the rumor and sell the news
This is different and the effect is gradually creeping in.
Many countries are taking interest rate to a level that could encourage investment like the ECD did.
I'm quite positive for the remaining month of this year.

In theory, the Fed's rate cut means that inflation is under control, the economy has recovered, and monetary policy will be loosened in the coming period. So this can be considered as the most important news for our economy and that is why the news of Fed rate cut received global attention. Not only bitcoin, if you look at the gold market, stocks...you will also see that gold has broken the peak, stock indexes have reached ATH. It's all part of the economy so there's no denying that rate cuts have had an impact on bitcoin's recent growth.

This also shows that the government has a significant impact on the development of bitcoin as well as the cryptocurrency industry, but many people still believe that bitcoin does not need government support or is not affected by government policies.

I thought that the reason was that the great crypto messiah watched some two incompetents try to buy something with Bitcoin, and then they attributed the transaction to him, which is somehow tragic, the man doesn't even know what QR codes are

What have we come to when people think that a price increase of 4-5% should be called a pump...

Lately, there have been many coincidental event which I can not state the one that must have contributed to the price pump. @OP, apart from this event that you have described, I read that micro strategy acquired about 18,300 Bitcoin just between last month and the 12th day of this month. We also see the news that is every where concerning Trump paying for a burger with Bitcoin, which he was not even the one that made the payment himself. Any of those news must have caused the price to pump.

In as much as both of them can’t directly influence a pump directly they can actually influence the market sentiment, Michael Saylor has always been buying bitcoin at every dip price and it isn’t moving anyone, the announcement of him get a new purchase was done a day after the fed rate cuts, bitcoin had a spike to $63k from $59k after the Fed rate announcement so he isn’t actually influencing anything.


Should I say that the news of either actually caused a little shift of market sentiment, I could recall in August when it was announced that there is a possibility of recession, the looming recession news caused a little dip then and just as how the market reacted to the fed cut again. The question actually is whether this little movement are actually worthy of been called a pump or dump which I don’t agree on. A significant movement should be a movement of $10k plus movement.

That is definitely going to happen, I believe bitcoin will be dumped heavily if the economy goes into recession because bitcoin is not an effective inflation hedge or safe haven. Remember 2022 when inflation hit our economy? Bitcoin has also dropped to $15k and lost 70% of its value while assets considered as the top inflation hedge like gold have held their value very well and even increased. So I wouldn't be surprised to see bitcoin prices do even worse if a global recession hits.

If bitcoin can operate independently of the global economy and is not affected by any macro news, then I am more convinced that every move of bitcoin is manipulated, and that's worse than it becoming a part of the global economy.

It's more like a Bitcoin's pattern instead of macro economy news.

Take a look with 2017 ATH, in the next year Bitcoin price drop without any reason.

It's similar to 2021, in the next year Bitcoin price drop too.

So, if Bitcoin make new ATH in the next year, I wouldn't be surprised to see Bitcoin dump in the next two years because that's the pattern.

It was definitely US Fed Rate Cut as a good news always pumps up the Bitcoin Price however it was also price action, those who are not into Technical Analysis will never agree to this however there are very important support and resistance zones when you look at the Bitcoin Chart. Bitcoin was at the Support Range and I even made a thread about it. So, it was just waiting for one bullish news to execute.

It could be interest rates. Or Michael buying just a regular billion, with his morning coffee. Or Trump realizing that Bitcoin is beyond "computer coin"; it's a currency! Or recovery. Or maybe a secret billionaire entered the space.

Or maybe we have no damn clue what happened. It's a "small pump". Wake me up when we experience more than 10% "pump".