Summing Up The Week

This week was all about the Federal Reserve meeting and the “will they, won’t they” questions regarding the interest rate cut. Well, there really wasn’t any surprise at all. Going into the Fed meeting, the markets expected a 0.25% rate cut and that’s exactly what we got.

However, what we weren’t expecting was what the Fed plans to do next both in 2025 and 2026… and what they did next sent stocks roaring to record highs across the board.

Let’s take a deep dive into what moved the markets this week…

Market News

Fed cuts as expected, Powell calls it “Risk Management”

On Wednesday, the Federal Reserve approved the expected 0.25 interest rate cut and signaled two more before the end of the year, however Chair Jerome Powell tempered expectations by cutting the rate cut “risk management,” reported CNBC. Additionally, the Fed indicated the markets should not expect more than a single rate cut in 2026.

In the Fed’s, the committee again described the economy as having “moderated.” However, the Fed also added verbiage describing “job gains [that] have slowed” with inflation that “has moved up and remains somewhat elevated.” This once again puts the Fed in between a rock and a hard place as their job is to fight inflation and maintain labor market strength – two goals which are diametrically opposed given the current data.

With the markets had been pricing in a rate cut, Wednesday’s news could have been a “sell-the-news” event – particularly with the somewhat dour 2026 outlook, however the markets finished the day relatively flat with the S&P 500 down just -0.10% and the Nasdaq down just -0.12%.

Next Week’s Gameplan

Next week, we get a lot of Fedspeak throughout the weak along with flash services and manufacturing PMI on Tuesday and GDP updates on Thursday. The big datapoint comes on Friday in the form of the Personal Consumptions Expenditures (PCE) index, the Federal Reserve’s preferred gauge of inflation.

While most economists don’t believe we’ll see anything dramatic in the form of PCE, a sudden spike in inflation would certainly upset markets (but, like I said, this would be very surprising and not what we’re expecting at all).

Believe it or not, I’m still not done with earnings reports as Costco (COST) reports next Thursday after the bell. While not necessarily market-moving, Costco’s report always provides an interesting perspective into the American consumer.

Meet me back here next Friday and we’ll go over all the details, friends!

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Crytpo Corner

Bitcoin Price Action

Bitcoin Blasts Resistance: Is the Bull Run Back for Real?

Bitcoin continued to confound the Bears over the past week, making a significantly higher-low at $114,395.84 on Monday. Bitcoin also shot through the key resistance at $117,416.73 and set a much higher weekly-high on Thursday at $117,998.17.

The Bullish Case

The Bulls who have been predicting that Bitcoin would finally hop on gold’s narrative and catch up to the precious yellow metal seem to be correct in their assertions as the momentum has definitively flipped in favor of the Bulls.

The Bearish Case

Bears point to the fact that if Bitcoin is truly done pulling back before setting a new all-time high, this would be the shallowest pullback from an all-time high before setting a new one in Bitcoin’s entire history at just -13.88%. By comparison, the prior shallowest pullback of all time was -26.31% which gives a low-end price target of $91,768.37.

Accordingly, many Bears argue that this bounce off the low at $107,250.00 is just that – a temporary bounce – and that Bitcoin is poised to roll over and dive even lower in the coming weeks and months.

Bitcoin Trade Update

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Not Your Keys, Not Your Crypto…

In light of brokerage failures in 2022, I no longer keep any of my crypto on an exchange and I only keep enough USD on the exchanges I use to execute my next few buys. I use multiple cold wallets from the brands Ledger and Trezor to hold my crypto (click the links to access the direct sites, and I receive no affiliate benefits from these links).

Additionally, I have now divided my allocated USD between two different exchanges – Gemini and Coinbase – in case one (or both) becomes insolvent. Disclaimer: We both receive a bonus if you use my Gemini referral link to open an account.

I do not trust anyone in the space, even with Coinbase (COIN) being publicly traded (and one of my own Investments in Play positions).

No price target is unrealistic in the cryptocurrency space – Bullish or Bearish.

While traditional stock market investors and traders may think the price targets in the cryptocurrency space are outlandish due to the incredible spread (possible moves include drops of -90% or more and gains of +1000% or more), Bitcoin has demonstrated that, more than any speculative asset, its price is capable of doing anything.

Here are some of Bitcoin’s price movements over the past couple of years:

• In 2017, Bitcoin rose +2,707% from its January low of $734.64 to make an all-time high of $19,891.99 in December.
• Then, Bitcoin crashed nearly -85% from its high to a December 2018 low of $3128.89.
• In the first half of 2019, Bitcoin rallied +343% to $13,868.44.
• In December, Bitcoin crashed -54% to a low of $6430.00 in December 2019.
• In February 2020, Bitcoin rallied +64% to $10,522.51.
• In March , Bitcoin crashed nearly -63% to a low of $3858.00, mostly in 24 hours.
• Then, Bitcoin rallied +988% to a new all-time high of $41,986.37 in January 2021.
• Later in January 2021, Bitcoin dropped -32% to a low of $28,732.00.
• In February, Bitcoin rallied +103% to a new all-time high of $58,367.00.
• Later in February, Bitcoin dropped -26% to a low of $43,016.00.
• In April , Bitcoin rallied +51% to a new all-time high of $64,896.75.
• In June , Bitcoin crashed -56% to a low of $28,800.00.
• In November, Bitcoin rallied +140% to a new all-time high of $69,000.00.
• In November 2022, Bitcoin crashed -78% to a low of $15,460.00.
• In April 2023, Bitcoin rallied +101% to a high of $31,050.00.
• In June, Bitcoin dropped -20% to a low of $24,750.00
• In July, Bitcoin rallied +29% to a high of $31,862.21.
• In September, Bitcoin dropped -22% to a low of $24,900.00.
• In January 2024, Bitcoin rallied +97% to a high of $49,102.29.
• Later in January, Bitcoin dropped -22% to a low of $38,501.00.
• In March, Bitcoin rallied +92% to a new all-time high of $73,835.57.
• In August, Bitcoin dropped -33% to a low of $49,050.01.
• In January 2025, Bitcoin rallied +150% to a new all-time high of $109,358.01.
• In April, Bitcoin dropped -32% to a low of $74,420.69.
• In May, Bitcoin rallied +51% to a new all-time high of $112,000.00.
• In June, Bitcoin dropped -12% to a low of $98,247.01.
• In July, Bitcoin rallied +25% to a new all-time high of $123,231.07.

Where will Bitcoin go from here? Truly, anything is possible…

What if Bitcoin’s headed to zero?

DISCLAIMER: Anyone considering speculating in the crypto sector should only do so with funds they are prepared to lose completely. All interested individuals should consult a professional financial adviser to see if speculation is right for them. No Get Irked contributor is a financial professional of any kind.