GCash Cryptocurrency Director Luis Buenaventura stated that since the market has already priced in the Federal Reserve's interest rate cut expectations for this month, this policy adjustment is unlikely to have a direct impact on cryptocurrency prices. However, historical data shows that after Bitcoin experiences a 50% increase within 60 days, there is approximately a two-thirds chance of achieving an additional 35% increase in the following two months, so Bitcoin's upward momentum is likely to continue.
Neal Wen, Global Business Development Director at Kronos Research, added that in a low-interest-rate environment, institutional investors tend to view crypto assets as an alternative to traditional investments. Presto Labs research analyst Min Jung pointed out that market focus has shifted to Federal Reserve Chairman Powell's policy speech and the latest economic projections, which will provide important guidance for the direction of monetary policy in 2025. (Decrypt) #crypto2023A
