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Tuesday, June 11, 2024
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How will the Fed’s interest rate decision affect Bitcoin? Please look forward to it!

The Fed’s interest rate decision will have a huge impact on Bitcoin, with positive signals that could push Bitcoin price to new ATH levels.

This week is of great importance for Bitcoin and the cryptocurrency market. Because all eyes are on Interest rate decision of the US Federal Reserve (FED) after the release of May CPI and PPI figures.

Although BTC rose above $71,000 last week, it plummeted to $69,000 following the release of US Non-Farm Load data on Friday.

According to CME Group’s FedWatch Tool, while Interest rates are priced unchanged at 99.4%, Investors expect the earliest possible interest rate cut to occur in September.

The important thing here is the Fed Chairman Jerome Powell will give a speech rather than the Fed’s interest rate decision. Analysts predict Bitcoin will increase in price if he gives positive messages about inflation and interest rate cuts.

Expect $89k for Bitcoin!

Famous cryptocurrency analyst Ali Martinez It is predicted that the potential value of Bitcoin will increase to 89,200 USD. The analyst pointed out that BTC buying has increased.

This significant buying pressure could make Bitcoin even more scarce and fuel a strong price rally in the near future, helping BTC reach a new all-time high of up to $89,200.

Analyst Reveals Reasons Why Bitcoin Price Cannot Surpass $72K

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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