According to The Block, André Dragosch, head of European research at Bitwise, said: "If the Fed cuts interest rates by 50 basis points, the crypto market reaction may be positive, because this particular leading indicator has shown that the potential economic momentum in September has even accelerated. I think the market will be driven more by expectations of rate cuts than rate cuts themselves in the coming months. Due to the weak US economy and the impending recession, expectations of further rate cuts may intensify, and we expect this to have a net positive effect on Bitcoin and crypto assets."
Bitwise executives: Expectations of further rate cuts by the Federal Reserve intensify, which is a net positive for crypto assets
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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