Crypto Market Rally: Will Bitcoin Catch Up With S&P 500 Gains After Fed Rate Cut?

Jerome Powell’s announcement of 25 bps Fed rate cut at the September 17 FOMC, has triggered a strong crypto market rally with Bitcoin (BTC) and altcoins seeing strong gains. The overall market liquidations have surged to $415 million, of which $232 million is in short liquidation. Historical trends suggest that in the year after rate cuts, S&P 500 rallies an average of 15%. Considering BTC’s strong correlation with the US index, analysts are predicting what happens next.