Bitcoin price set to hit $130,000 after Fed rate cuts, say analysts

Core Insights - The Federal Reserve has cut interest rates, but the crypto market's reaction has been muted, with only BNB reaching a new all-time high of $1,000, indicating a lack of confidence among traders regarding a shift in monetary policy [1] - Predictions from industry experts suggest that major cryptocurrencies like Bitcoin and Ethereum could see significant price increases, with Bitcoin potentially reaching $130,000 and Ethereum $6,000 by year-end [2] - The immediate market response suggests that a single rate cut is insufficient to excite traders, who are awaiting further confirmation of additional monetary easing [3] Market Reactions - Analysts note that the market's lack of enthusiasm reflects a "sell the news" scenario, as cryptocurrencies and equities had already rallied in anticipation of the rate cut [4] - The consensus among analysts is that lower borrowing costs typically benefit risk assets, including cryptocurrencies, suggesting a positive long-term outlook for the crypto market [5] Current Market Data - Bitcoin has increased by 0.8% over the past 24 hours, trading at $117,276 - Ethereum has risen by 2.0% over the past 24 hours, trading at $4,584 [8]