Analyst: Monetary Easing Expectations Fully Priced In, Interest Rate Cut Unable to Propel Bitcoin Rebound Above $120,000
BlockBeats News, September 8, BTC Markets cryptocurrency analyst Rachael Lucas stated: "The soft US job report did trigger expectations for a more dovish stance from the Federal Reserve, which usually supports risk assets such as Bitcoin. However, the market has already digested a certain degree of policy easing. At the same time, we see institutional investors taking profits, while ETF fund flows remain relatively stable. Bitcoin's resistance is at $113,400, with further resistance at $115,400 and $117,100. Breaking through these resistance levels indicates that the market has absorbed recent selling pressure and is ready to retest highs."
Kronos Research Chief Information Officer Vincent Liu also stated that even if the Federal Reserve decides to lower interest rates, the Bitcoin price may still remain subdued. "Rate cuts may reflect a weak economy, while persistent high inflation and cautious risk sentiment limit risk appetite. Without stronger ETF inflows or true liquidity expansion, surpassing $120,000 remains a formidable barrier."
You may also like
Gainers
Latest Crypto News
Analyst: Investors are now shifting to a risk-off mode, reducing overall risk exposure. The Federal Reserve meeting minutes and NVIDIA's financial report will impact the short-term direction.
A whale group today performed a rug pull, selling 22,880 ETH and incurring a $13.73 million loss in one week.
Yi Li Hua: Currently maintaining spot position unchanged, still considering $3000-3300 as the spot bottoming zone
A certain Whale Address withdrew 20,726 ETH from a CEX in the past 2 hours
Mastercard Partners with Polygon to Build New Cryptocurrency Transfer System
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]