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Bloomberg: The upcoming policy adjustments from the Federal Reserve are making investors nervous, causing BTC to fall below the $60,000 mark

Bloomberg: The upcoming policy adjustments from the Federal Reserve are making investors nervous, causing BTC to fall below the $60,000 mark

Bitget2024/09/16 05:20
BTC-0.38%

Before the general expectation that the Federal Reserve will cut interest rates later this week, Bitcoin fell below the $60,000 mark. The upcoming policy adjustment by the Fed has made global markets nervous. The first rate cut in more than four years in the United States signifies a looser financial environment, which is usually a positive backdrop for riskier assets such as cryptocurrencies. However, investors are uncertain about Wednesday's rate hike magnitude and how the market will react to the latest forecasts (so-called dot plots) from Fed officials and Chairman Powell's briefing. Sean McNulty, head of trading at liquidity provider Arbelos Markets said: "The signals sent out at press conferences and recent dot plots are more important than rate cuts. If guidance and press releases are noticeably dovish, we expect Bitcoin to rise."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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