On September 26, CoinDesk reported that as the Federal Reserve cut the federal funds rate by 50 basis points a week ago, the debate intensified as to whether the cut represented a normalization of an overly tight monetary policy designed to curb inflation or a preparation for an impending economic downturn.
Risk assets, including bitcoin and torrents, rallied after the Fed's decision, suggesting that markets viewed the rate cut as a normalization move. Some analysts are predicting that bitcoin's rise will accelerate once it breaks above the $65,200 resistance level.