BRN analyst noted that inflation and recession risks could lead to a negative market reaction even if the expected 50 basis point rate cut is realised.
Valentin Fournier, an analyst at research firm BRN, said persistent inflation concerns and the risk of recession could lead to a negative market reaction even if the expected 50 basis point rate cut is realised.
Fournier made the following statement on the subject:
Bitcoin’s volatility has been increasing in recent weeks, and the upcoming US Federal Reserve (FED) decision could increase this volatility even further.
Moreover, the BRN analyst said that technical indicators suggest that the momentum in Bitcoin’s recovery has weakened since the drop to $52,500 on September 6, increasing the possibility of a trend reversal.
On the other hand, QCP Capital stated that the FOMC meeting to be held on Wednesday (September 18) and the Token2049 event that started the other day could create volatility in the sector and drew a possible bullish scenario in this regard.
Bitfinex analysts also made a similar statement, stating that the US Federal Reserve is expected to cut interest rates for the first time in four years this week, which could further increase demand for traditional safe haven assets. Analysts also think that the week will be quite volatile, just like QCP Capital.
Stay tuned for new information.
