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Bitcoin Price, XRP Falls. Why Gold May Drive the Next Crypto Move.

1. Bitcoin price fell slightly while showing early recovery signs. 2. Market expects a 98% chance of Fed cutting interest rates this month. 3. Lower borrowing costs could favor riskier assets like cryptocurrencies. 4. Bitcoin is acting more like a safe haven, linked with gold movements. 5. Strong debut of American Bitcoin illustrates ongoing crypto listing hype.

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FAQ

Why Neutral?

Current dynamics provide mixed signals; historical trends show volatility in crypto often influence stock indices, but Bitcoin's recent movements reflect a retreat from equities may not directly correlate with SPY's immediate price action.

How important is it?

The correlation between Bitcoin's role and broader market trends, particularly with safety in volatile times, implies indirect impacts for SPY amid risk-off scenarios.

Why Short Term?

The potential Fed interest rate cut may quickly influence SPY's performance; investors tend to react rapidly to Fed signals, as seen in past rate change responses.

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