Bitcoin May Face Short-Term Pressure Amid Fed Caution but Could Rebound with Potential Rate Cuts
Main Idea
Bitcoin faces short-term pressure due to reduced Fed rate cut expectations but could rebound if the Fed changes its policy stance, with current price movements showing volatility around $115K-$118K.
Key Points
1. Fed rate cut expectations for September dropped from 63% to 43%, impacting Bitcoin's momentum and causing resistance around $115K-$118K.
2. Bitcoin briefly fell to $115.7K after the Fed's cautious announcement but rebounded to $118.5K, while altcoins lagged behind.
3. Analysts suggest that a future Fed policy pivot, similar to late 2023, could reignite Bitcoin's upward momentum, though timing remains uncertain.
4. Bitcoin's unrealized profit recently reached a record $1.4 trillion, with potential for further rally if quantitative easing or increased dollar liquidity resumes.
5. Fed Chair Jerome Powell's 'wait and see' approach has increased market uncertainty, but historical patterns indicate possible future bullish conditions for Bitcoin.
Description
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