The US Federal Reserve is now all set to cut interest rates, potentially kickstarting the next crypto bull run.
The CPI print for August came mostly in line with market expectations, except for the monthly core CPI which increased by 0.3% instead of the expected 0.2%.
The latest inflation data does nothing to shift the market’s expectations of a 25 bps rate cut at the next FOMC on September 18th, which is expected to flush the US stock and crypto markets with fresh capital.
Unsurprisingly, smart money investors are already stacking Bitcoin, Solana and new low-cap gems like Memebet Token and Crypto All-Stars.
Bitcoin Price Analysis: Is The Next Crypto Bull Run Imminent?
The headline CPI data came out at 2.5%, significantly lower than the 3.0% last month. It is further evidence of the fact that inflation levels in the US economy have substantially cooled down, paving the way for the Federal Reserve to begin its quantitative easing.
The CME FedWatch is currently showcasing an 87% probability of a 25 bps rate cut and 13% of a 50 bps cut.
A 50 basis point cut would certainly take the market by surprise and could spark a major blow-off top rally.
Even if a 50 bps rate cut doesn’t materialize in September, it is certainly a strong possibility in the November and December FOMC meets. In fact, Citi analysts believe that the central bank could cut rates by 125 bps points this year.
This is a decidedly bullish scenario for Bitcoin. Experts believe that the BTC price is nowhere near its cycle top, with $725 billion asset management firm Bernstein expecting it to hit $90,000, especially if Donald Trump wins in November as well.
There is also a growing number of experts who see the Bitcoin price hitting triple digits this year.
However, the bulls must defend the $52k to $53k range to invalidate all bearish scenarios. The 50-week Exponential Moving Average – which is currently hovering near $54,220 – is also an important support level for BTC.
Notably, the next crypto bull market will be led by altcoins. Popular crypto trader Elja (@Eljaboom) sees the start of a 100x altcoin season in 2024.
Best Altcoins To Buy For The Next Crypto Bull Run
Whales are still bullish on Solana as one of the top-performing altcoins in the next bull run.
A whale recently purchased $4.52 million worth of SOL, data from Lookonchain reveals. This is also decidedly bullish news for Solana meme coins like Dogwifhat, Popcat and Bonk.
GambleFi altcoins are also showing tremendous strength, behind Rollbit Coin’s 70% rally last month. Even a new GambleFi coin – Memebet Token (MEMEBET) – is seeing robust presale fundraising, having already raised $153k since going live this week.
MEMEBET is the native coin of Memebet Casino, which is the first-ever meme coin-based casino. Users can wager with top meme coins like DOGE, PEPE and SHIBA or MEMEBET to compete in this Telegram-based crypto casino.
The new crypto project is creating a strong buzz, with some experts viewing it as the next 100x crypto.
New meme coins like Crypto All-Stars (STARS) are also in high demand, with STARS having already raised over $1.2 million in its ICO.
Crypto All-Stars is also a unique coin, considering it is launching the first-ever unified meme coin staking model, MemeVault. It will accept 11 top meme coins, offering investors lucrative staking rewards in exchange.
STARS is another low-cap gem that experts are bullish on, with some investors aiming for as much as 30x returns.
