Fed Rate Cut Odds Hit 90% for October! Gold Breaks $3,800, Bitcoin Surges Past $110K
TradingKey – Rising expectations of a Federal Reserve rate cut in October have sent Bitcoin and gold prices soaring.
On Monday, September 29, Bitcoin (BTC) rebounded sharply while gold (XAUUSD) rallied to a new record high, driven by growing market confidence in an imminent Fed rate cut.
According to market data, BTC jumped over 2% intraday, breaking above $110,000 and currently trading at $111,756. Gold rose more than 1%, crossing the $3,800 threshold and now sits at $3,816 per ounce.
Bitcoin Price Chart – Source: TradingView.
Data from CME’s FedWatch Tool shows a 90% probability of a rate cut in October, with only a 10% chance of rates remaining unchanged. Investors are now closely watching this week’s key U.S. economic releases, including job openings, ADP private payrolls, ISM manufacturing PMI, and the nonfarm payroll report.
Previously, Galaxy Digital CEO Mike Novogratz expressed optimism about the Fed’s dovish stance, predicting that it would drive both Bitcoin and gold to new highs. That outlook appears to be gaining traction as macro conditions align with bullish momentum in both assets.
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