Inflation Shadow on the Rise of Bitcoin and Cryptocurrency: What are the Expectations?
Cryptocurrency analysis company QCP Capital analyzed the current situation of the cryptocurrency market. The report published by QCP Capital on June 13 included the cryptocurrency market and the US impact. Analysts pointed out that the interest rate decision and CPI data announced by the US Federal Reserve (FED) yesterday caused a sudden increase in cryptocurrencies and Bitcoin, and emphasized that the interest rate cut expectation is still on the table: The market is pricing in 2 interest rate cuts in 2024. Interest rate futures indicate the possibility of a 56% interest rate cut in September, while the second cut will occur in December. Last night's CPI numbers sparked a boom in risk assets. While US stocks reached an all-time high, BTC had reached 70 thousand levels before falling to 67.3 thousand this morning.
