Investors await the Fed's decision: US interest rates may remain high, which has led to lower prices for Bitcoin and other cryptocurrencies.
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Chairman Jerome Powell previously hinted at three interest rate cuts. However, this year the interest rate decline may be smaller. The latest PCE data points to continued inflationary pressures.
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GDP growth of 1.6% in the first quarter showed stagflation. The forecast market is predicting only one Fed rate cut this year, which is largely negative for cryptocurrency prices.
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