The big BTC market is coming

As U.S. PCE inflation data and options expiration date approach, the currency market is once again shaking with the imminent turmoil.

Institutions such as JPMorgan Chase and Goldman Sachs predict that PCE inflation will cool down and expect that the Federal Reserve may start cutting interest rates starting in September.

However, International Monetary Fund Managing Director Kristalina Georgieva recommended that the Federal Reserve maintain current policy rates until the end of the year, highlighting the inflation risks that may arise from strong U.S. economic growth.

If inflation continues, the Fed will postpone interest rate cuts until next year! Bitcoin price could drop to $55,000 due to factors including a bearish double top pattern and declining market sentiment. A lack of institutional buying and selling pressure due to macroeconomic factors further increase downside risks.

If interest rates are cut this year!

The launch of a spot Ethereum ETF may boost investor sentiment, but Bitcoin’s recovery to the $65,000 mark remains challenging in the short term. Currently, Bitcoin price is up 1%, trading at $61,291, with a significant increase in trading volume.

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