Bitcoin
Pearl
Starknet
Zerebro
NEAR Protocol
Solana
Quantus
An upcoming Fed rate cut could spark a crypto bull run. The impact may grow if future cuts are hinted at in forthcoming meetings. This article explores some of the best crypto to buy today in the event of this happening.
Fed Rate Cut Odds Surge to 98% Ahead of Trump-Xi Summit
The Federal Reserve’s two-day meeting will end on October 29. It will announce its interest rate decision later that day during the American session.
Polymarket data indicates a sharp rise in Fed rate cut expectations. Odds surged to 98% following Friday’s subdued US inflation report. The report showed that the headline Consumer Price Index (CPI) rose to 3.0% in September.
At the same time, the core inflation fell to 3.0% from 3.1%. More data have shown that the economy is softening, with the private sector shedding over 36,000 jobs in September. This week, companies such as Target, Amazon, and UPS announced significant layoffs.
A Federal Reserve interest rate cut would be highly bullish for the crypto market. Besides, this cut comes a day before a meeting between Donald Trump and Xi Jinping. This could ease the ongoing tensions between the two most powerful countries in the world.
Top Crypto to Buy as Fed Rate Cut Fuels Bullish Momentum
Bitcoin (BTC)
Bitcoin is one of the best crypto to buy if the Federal Reserve cuts interest rates today. This triggered a bull run in the industry. It has numerous catalysts, including ongoing ETF inflows and its technical indicators.
Data shows that spot Bitcoin ETFs have had over $351 million in inflows this week. This brings the cumulative total to $62.4 billion. BlackRock’s IBIT ETF has had the most inflows and now has $92 billion in assets.
Bitcoin price has strong technicals that may lead to a bullish breakout in the near term. The daily timeframe chart shows that it has remained above the 100-day Exponential Moving Average (EMA).
Most importantly, it has formed a megaphone pattern, which is made up of two diverging trendlines. Therefore, the coin is likely to rebound and retest its all-time high of $126,300. A move above that level indicates further gains, potentially reaching $130,000.
Ripple (XRP)
XRP is another top crypto to buy today if the Fed rate cut triggers a bull run in the industry. The coin has numerous bullish catalysts that will boost its performance in the near term.
For example, there are high odds that the SEC will approve the multiple XRP ETFs as soon as this month. These odds jumped after the agency allowed HBAR, Solana, and Litecoin to be listed.
All signs indicate that these ETFs will experience substantial inflows, resulting in increased demand. For example, the recently launched REX-Osprey XRP ETF (XRPR) has accumulated over $117 Million in assets.
Also, the Teucrium XRP ETF has collected over $400 million in assets. Therefore, the XRP price is expected to continue rising in the near term.
Solana (SOL)
Solana stands out as a top crypto to buy following the Fed’s interest rate cut. Its strong fundamentals and ETF approval could drive further gains.
The primary catalyst for the token is that the SEC has already approved the spot Solana ETFs. Additionally, there is a chance that these funds will experience substantial inflows.
Solana price has strong technicals as the token has remained above the 200-day Exponential Moving Average (EMA). It is also in the second phase of the Elliot Wave pattern, which will then be followed by the third bullish one.
Binance Coin (BNB)
Binance Coin (BNB) is another cryptocurrency to consider buying due to its strong fundamentals. It boasts some of the best fundamentals, including regular token burns and robust ecosystem growth. The network burned BNB tokens worth over $1 billion this week as part of its quarterly process.
BNB is also benefiting from its relationship with Binance, the biggest company in the crypto industry. Its ecosystem is also growing, with the DEX protocols handling billions of dollars daily. There are signs that the Securities and Exchange Commission will approve the spot BNB ETF.
