Bitcoin Hits $106,000: Will the Fed Change the Game in the Crypto Market?

Bitcoin is back in the spotlight as its price has surpassed an impressive $105,000, sparking a wave of optimism among investors. The rally comes amid expectations of a rate cut by the US Federal Reserve, which experts say could only confirm, rather than trigger, further price increases.

Will the Fed’s decision affect Bitcoin?

The Federal Reserve is set to cut rates by 25 basis points, which analysts say has already been priced in by the market. “This expected cut is unlikely to have a significant impact on Bitcoin’s price trend,” experts say. Historically, Bitcoin has tended to rise after such changes, but this time the market has already prepared for the possible consequences.

Factors that drove Bitcoin

Bitcoin’s 140%+ surge this year is not solely due to the Fed’s decisions.

What’s next for the cryptocurrency market?

As traders eagerly await the outcome of the Fed meeting, their focus is shifting to technical indicators and implementation metrics. "Market structure and institutional participation are likely to be the deciding factors for Bitcoin's future movement," experts note. #MarketNewHype