The recent stabilization of Bitcoin below its all-time high suggests a potential recovery for the cryptocurrency market. The Federal Reserve's reduction of interest rates is seen as a positive development for cryptocurrencies, with projections indicating further cuts throughout the year. However, concerns remain regarding the possibility of a decline in inflation prompting an increase in the neutral interest rate, which could stall ongoing rate cuts. The release of Personal Consumption Expenditures (PCE) data and unemployment claims data is crucial in determining market stability and the future of interest rate cuts. Overall, the current data trends are favorable for the cryptocurrency market.
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