Is This Why BTC PUMPED Up By $5K in 24 Hours ! đ„đ„
The Fedâs Influence đŠ
Bitcoinâs relationship with the US Federal Reserve (the Fed) has been significant.
During the COVID-19 crash, the Fed raised interest rates, affecting risk-on assets like BTC.
Experts expected a surge once the Fed shifted its strategy, similar to other central banks.
Finally, Fed Chair Jerome Powell hinted at rate cuts during his speech at the 2024 Jackson Hole Economic Symposium. The exact date isnât specified, but expectations point to September1.
Election Dynamics đłïž
BTCâs price is also tied to the US presidential election cycle.
Democrats (led by President Joe Biden) havenât been crypto-friendly due to SEC actions.
Republican candidate Donald Trump, however, promised positive developments for Bitcoin.
Robert F. Kennedyâs endorsement of Trump adds to the positive sentiment in the crypto market2.
The $5,000 Surge đ
The recent surge from $60,000 to $65,000 could be influenced by both the Fedâs policy shift and election dynamics.
Keep an eye on upcoming elections and the Fedâs decisionsâtheyâll continue shaping BTCâs trajectory.
Market dynamics are fascinating, arenât they? đđđ