The cryptocurrency made a slight recovery over the last weekend. Bitcoin (BTC) fell below $80,000 last week. BTC’s price reclaimed the $83,000 mark earlier this week. The original crypto has since fallen to the $82,000 price point. The global crypto market cap has also dipped 2.7% in the last 24 hours to $2.8 trillion.

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Cryptocurrencies Recover Amid Bearish Conditions

Two futuristic digital cryptocurrency price charts with dollar sign markers, showing one steep blue growth line and one gradual golden growth line racing toward the $1 milestone
Source: Watcher Guru

The crypto market was showing signs of a slight recovery earlier this week. The recovery was short-lived as the market began to consolidate. BTC briefly stabilized at $83,000. The asset’s price has dipped in the last 24 hours. We may enter another bearish leg in the coming days. Macroeconomic factors present a considerable barrier to the crypto market.

The low prices may present a good opportunity for new investors to enter the cryptocurrency realm. There is a chance that the Fed will reduce interest rates in its next meeting. An interest rate cut could lead to more investments in risky assets.

Also Read: XRP Price Prediction: Where Is It Headed By 2027?

Top 3 Cryptocurrencies That May Rally If The Fed Cuts Interest Rates

1. Bitcoin (BTC)

BTC cryptocurrency on table with price charts
Source: Watcher Guru

BTC is the original cryptocurrency. The larger will likely not move unless BTC rallies. If the Fed cuts interest rates, we may see a spike in institutional investments. The development could lead to BTC reclaiming the $100,000 price level.

Also Read: Pepe: Analyst Predicts 50% Rally To $0.0000105

2. Ripple (XRP)

Golden XRP cryptocurrency coin displaying the distinctive 'X' symbol against a dark background with blue digital light effects, representing Ripple's digital asset
Source: News10

Ripple’s XRP token breached the $3 mark for the first time in nearly seven years. The cryptocurrency has since faced a substantial price dip. XRP could see a rise in fund inflows if borrowing is made easier. There is also a high chance that the SEC will approve an XRP ETF later this year.

3. Solana (SOL)

Solana sol
Source: Cwallet

SOL is another cryptocurrency that could witness a rally if the Fed cuts interest rates. The asset has experienced a significant drop in prices since its January peak. SOL could also get an ETF later this year.

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