Is the Fed’s Rate Policy the Key to Bitcoin’s Next Big Move?
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A prominent cryptocurrency analyst believes that digital assets will need a shift in monetary policy before they can experience significant gains.
Crypto strategist Benjamin Cowen recently stated that the Federal Reserve must ease its tight monetary policy for the crypto market to rise substantially.
Cowen noted that Bitcoin (BTC) has been gradually declining since March, attributing this to the Fed’s reluctance to implement quantitative easing. He suggests that the most likely scenario is for the Fed to loosen its policies by September.
Cowen speculates whether the crypto market can see a lasting change before the Fed adopts a more lenient monetary approach. He believes it’s possible that the market might remain subdued throughout 2024, given the current conditions.
He explained that Bitcoin’s recent downward trend is tied to the market’s uncertainty regarding the timing and nature of Fed rate cuts. This uncertainty leads to volatile market behavior, with expectations constantly shifting and causing fluctuations in Bitcoin’s price.
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