CandleFocus Bitcoin Has Only Had One Interest Rate Cut Cycle Before: What Happened Then, What Do Analysts Expect This Time?
2024-09-13
Author: Content Editor
Steno Research has examined Bitcoin's exposure to US interest rate cut cycles and found that BTC has only undergone one such cycle in 2019. Bitcoin's price fell by about 15% during this period, but it wasn't until the aggressive monetary stimulus during the COVID-19 pandemic in March 2020 that Bitcoin hit its bottom and started its rapid rise. The first rate cut of the current cycle is approaching, with a 54% chance of a 25 basis point cut. The interest rate is important for the crypto market as it impacts investors' risk tolerance. Steno Research's analysis suggests that rising global yields negatively affect Bitcoin and Ethereum prices, but lower interest rates generally benefit the crypto market indirectly.
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