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Will the US interest rate cut be implemented soon? Should we hold or sell?
BTC once dipped to the support level of $63,000 on that day, and then rebounded slightly. As of the time of writing, the trading price is $63,105, with a decrease of nearly 2% in the past 24 hours.
Will a Fed rate cut trigger a bitcoin bull market? What is the expected price of BTC?
Federal Reserve Chairman Powell hinted at a rate cut in September, which may lead to volatility in the crypto market. The rate cut could stimulate economic growth and potentially divert funds from the bond market to the crypto market, driving up the price of bitcoin.
With Powell's remarks igniting the cryptos market, bitcoin has risen by 5%.
On Friday, August 23, 2024, after recent comments by Federal Reserve Chair Jerome Powell, bitcoin soared more than 5%.
