Viewpoint: The Fed’s interest rate cut expectations have been digested by the market in advance. Based on historical data, Bitcoin is likely to continue its upward momentum

Odaily reports that GCash cryptocurrency manager Luis Buenaventura said that since the market has already priced in the Fed's expected rate cut this month, the policy adjustment is unlikely to have a direct impact on cryptocurrency prices. However, according to historical data, when Bitcoin has a 50% increase within 60 days, there is about a two-thirds probability that it will see an additional 35% increase in the following two months, so the upward momentum of Bitcoin is likely to continue. Kronos Research's global business development manager Neal Wen supplemented that in a low-interest rate environment, institutional investors tend to view crypto assets as an alternative to traditional investments. Presto Labs research analyst Min Jung pointed out that the market's focus has shifted to the content of Fed Chairman Powell's policy speech and the latest economic forecast dot plot, which will provide important guidance for the direction of monetary policy in 2025. (Decrypt)