Bitcoin Rally Dependent on Rate Cut, Says Bitfinex Executive

Bitcoin Rally Dependent on Rate Cut, Says Bitfinex Executive



U.S. macroeconomic uncertainty has driven Bitcoin to a two-month low, but cooling inflation suggests that monetary policy may soon bolster the risk appetite.



Bitcoin’s (BTC) dip below $57,000 followed the release of minutes from the U.S. Federal Reserve meeting, which confirmed the continuation of current interest rates until economic data justifies looser policies.



“The Fed’s decision to maintain a wait-and-see approach before committing to interest rate cuts signals cautious optimism that inflation is on a downward trajectory but not sufficiently assured to justify immediate rate reductions,” stated Jag Kooner, Head of Derivatives at Bitfinex, in a report.



The leading cryptocurrency exhibited the macro correlation mentioned by Token Bay Capital founder Lucy Gazmararian last month, as BTC shed over 5% in 24 hours. Higher inter


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