BTC USD Price Braces For FOMC: Polymarket Says Cut, Will Powell Deliver?

Market Events - The Federal Reserve will announce new interest rates tomorrow, and US President Donald Trump will meet with Premier Xi Jinping the following day, both of which are expected to impact the BTC USD price [1] - The BTC USD price is currently around $114,000 to $115,000, reflecting a +6% increase over the past week, with potential for further gains following a recovery from October 23 [2] Trader Sentiment - Most traders are currently bullish, as indicated by a long/short ratio above 1 on major exchanges like Binance and OKX, suggesting more leveraged buy positions than shorts [3] - An expanding long/short ratio and significant inflow to spot Bitcoin exchanges, with over $120 million in Bitcoin purchased in the last eight hours, indicate positive market sentiment [4] Federal Reserve Outlook - The CME FedWatch tool indicates a +97% probability of a rate cut to the +3.75% to +4% range, with expectations that the central bank will cut rates for the second time this year [5] - The Federal Reserve is closely monitoring economic data, particularly inflation and labor market conditions, with job growth slowing to 22,000 in August, the weakest since 2010 [6] - Inflation has eased slightly, with core PCE at +2.7%, above the +2% benchmark, influenced by tariffs and reduced immigration, while lower demand for goods is helping to create balance [7] Rate Cut Expectations - There is speculation that the Federal Reserve may adopt a more aggressive stance on rate cuts, with some governors advocating for a +0.50% reduction [8]