With the United States Federal Reserve (Fed) poised to implement a new monetary policy in September, Bitfinex analysts warn that the agency’s decision could adversely affect bitcoin’s price.
According to a recent research report from Bitfinex, the analyst team stated that BTC could face a decline of up to 20% if the Fed decides to cut interest rates lower. They pointed out that the expected rate cut could “significantly influence both bitcoin’s short-term volatility and long-term trajectory.”
Potential Effects of Fed Rate Cut
The analysts noted that while bitcoin is often considered as a hedge against traditional financial assets, the digital asset is still influenced by macroeconomic conditions.
Per the report, BTC had surged over 32% since early August, mainly driven by traders anticipating dovish comments from the Fed. However, in the past week, Bitfinex analysts pointed out a shift in the market dynamics, with spot traders aggressively selling their BTC while futures and
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