đđź Could the Bank of England's shock decision propel the price of Bitcoin to new heights?!
On August 1, the Bank of England surprised everyone by announcing a cut in interest rates by 0.25%, bringing them to 5%, marking the end of one of the longest periods of high rates . This decision could well be the long-awaited catalyst for a bullish surge in Bitcoin ($BTC )!
Historically, easing monetary policy has favored risky assets like Bitcoin and gold. However, despite this announcement, the price of Bitcoin remains dormant and plateaus below $65,000.
Why this stagnation? The answer could come from American monetary policy. Bitcoin fell 2.4% in the last 24 hours, reaching $64,507, after stagnating the previous week. This situation could be linked to the decision of the American Federal Reserve to keep its interest rates stable in August.
But don't lose hope! Bitfinex analysts predict that a possible rate cut in the United States in September could inject new liquidity into the market, creating a more favorable climate for Bitcoin and other cryptos. Prepare for a possible price surge as investors seek higher yields and flows into ETFs could increase.
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