Grayscale Head of Research: Bitcoin Under Pressure as Fed Rate Cuts Short Term Out of Reach

Zach Pandl, head of research at Grayscale, said in an interview that ‘a Fed rate cut is out of the question for now.’ He pointed out that in the short term, this is not good for risky assets such as bitcoin, as the market is further digesting the Fed's expectations of delaying a rate cut. pandl believes that January's CPI data exceeded expectations (up 3% year-on-year), and core inflation also rose to 3.3%, suggesting that inflation remains stubborn. pandl also warned that, if inflation continues to exceed expectations, the Fed may even reopen discussions on raising interest rates, which would constitute an even bigger shock to market sentiment. This would be an even bigger shock to market sentiment.