{"id":33638,"date":"2024-07-05T05:48:10","date_gmt":"2024-07-05T05:48:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-growth-linked-to-rate-cut-prospects-bitfinex-executive-asserts\/"},"modified":"2024-07-05T05:48:10","modified_gmt":"2024-07-05T05:48:10","slug":"bitcoin-growth-linked-to-rate-cut-prospects-bitfinex-executive-asserts","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-growth-linked-to-rate-cut-prospects-bitfinex-executive-asserts\/","title":{"rendered":"Bitcoin Growth Linked to Rate Cut Prospects, Bitfinex Executive Asserts"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
\n<\/p>\n

\n

Bitcoin\u2019s value dipped below $57,000 following the U.S. Federal Reserve\u2019s decision to maintain current interest rates. This cautious stance signals a continued wait-and-see approach until economic data supports policy changes.<\/p>\n

\u201cThe Fed\u2019s decision to maintain a wait-and-see approach before committing to interest rate cuts signals a cautious optimism that inflation is on a downward trajectory but not sufficiently assured to justify immediate rate reductions,\u201d<\/em> said Jag Kooner, Head of Derivatives at Bitfinex.<\/p>\n

Bitcoin\u2019s dip of over 5% in 24 hours reflects its macro correlation, as noted by Token Bay Capital founder Lucy Gazmararian last month. Higher interest rates often decrease demand for risk assets like cryptocurrencies, influencing market movements.<\/p>\n

Market Reactions and Future Outlook<\/strong><\/h2>\n

With the central bank aiming for a 2% inflation target, Bitcoin<\/a> has fluctuated between $56,800 and $70,000. Early-year momentum from spot BTC ETF approvals and pre-halving excitement has cooled. However, Kooner believes upcoming data could provide a clearer market outlook.<\/p>\n

Anticipated on Friday, the Non-Farm Payrolls (NFP) report has the potential to greatly impact market projections for upcoming rate reductions. According to Kooner, sustained economic uncertainty may eventually lead the Fed to lower interest rates, which would increase the allure of Bitcoin as an inflation hedge and attract capital to spot BTC ETFs.<\/p>\n

\n
\n
\n
\n
\n
177% up to 5BTC + 77 Free Spins<\/strong>!<\/strong> <\/p>\n

New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

But as Kooner pointed out, \u201cwe\u2019ve recently seen quite underwhelming flows and a lack of \u2018dip-buying\u2019 since the Bitcoin halving.\u201d<\/em> James Seyffart of Bloomberg continued, saying that trade volume in particular has slowed in U.S. spot BTC ETF activity.<\/p>\n

The future NFP report and the Federal Reserve\u2019s cautious approach will be critical in determining the direction of the Bitcoin market. Investors will continue to closely monitor Bitcoin\u2019s appeal and market moves while they wait for more economic data.<\/p>\n<\/p><\/div>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Crypto News – iGaming.org ) Bitcoin\u2019s value dipped below $57,000 following the U.S. Federal Reserve\u2019s decision to maintain current interest rates. This cautious stance signals a continued wait-and-see approach until economic data supports policy changes. \u201cThe Fed\u2019s decision to maintain a wait-and-see approach before committing to interest rate cuts signals a […]<\/p>\n","protected":false},"author":34,"featured_media":33639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33638"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33638"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33639"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}