André Dragosch, head of European research at Bitwise, said: "If the Federal Reserve cuts rates by 50 basis points, the crypto market reaction could be positive, as this particular leading indicator already indicates that underlying economic momentum even picked up in September, and I think the market will be driven more by expectations of rate cuts than by the rate cuts themselves in the coming months. Expectations of further rate cuts are likely to intensify due to the weakness of the US economy and the impending recession, which we expect to be net positive for Bitcoin and crypto assets."