Investors are currently focused on the potential Federal Reserve interest rate cut and how the monetary policy will likely impact the price trajectory of major assets such as Bitcoin (BTC).
Indeed, Bitcoin has recently seen its price drop below the $60,000 mark, driven by concerns regarding the economy’s general health. The rate cuts are viewed as a potential course-altering move, especially amid recessionary fears.
Regarding how Bitcoin will likely react, cryptocurrency trading expert Trading Shot outlined possible scenarios for the maiden digital asset in a TradingView post on September 11. The expert focused on the correlation between the Global Liquidity Index (GLI) and Bitcoin’s price trajectory.
A representation of the GLI highlighted the projection, tracking major central banks, including the Federal Reserve, European Central Bank, People’s Bank of China, Bank of Japan, and Bank of England.
Bitcoin price analysis chart. Source: TradingView
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