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Goldman Sachs Sees Fed Delivering First Rate Cut in Q3 2024: Reuters
The Fed's benchmark interest-rate range is currently 5.25% to 5.5%.
Updated Mar 8, 2024, 6:29 p.m. Published Dec 11, 2023, 9:28 a.m.
Investment banking giant Goldman Sachs brought forward its estimate for the Federal Reserve's first interest-rate cut to third-quarter 2024 from a previous forecast of the fourth quarter, Reuters reported Monday.
The shift comes as bitcoin [BTC] and the broader crypto market has surged in recent weeks on a bullish cocktail of an expected spot ETF launch in the U.S., the impending Bitcoin mining reward halving and the decline in the 10-year U.S. Treasury yield, the so-called risk-free rate.
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The Fed's benchmark interest rate is currently 5.25% to 5.5%, with traders of the Fed funds futures anticipating a decline to a range starting at 4% by the end of the next year.
When interest rates drop, borrowing becomes cheaper, spurring risk-taking in the economy and financial markets, including cryptocurrencies. The opposite happens when rates rise rapidly, as observed in 2022.
The Fed kicked off its tightening cycle in March 2022 to tame inflation, raising rates from as low as 0%-0.25% with the most recent increase occurring in July. The rapid rise in borrowing costs weighed on risk assets, including cryptocurrencies, last year.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Strategy boosted bitcoin holdings and cash reserve last week
The Michael Saylor-led company added 1,287 BTC and $62 million in cash via the sale of common stock.
What to know:
- Strategy added 1,287 bitcoin last week and $62 million in cash to its balance sheet.
- The acquisitions were funded through sales of common stock.
- Shares are higher by 4.5% early Monday as the price of bitcoin rises to $92,900.
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