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Opinion: The market has already digested the expectation of Fed rate cuts, and BTC is likely to continue its pump trend based on historical data.
Odaily Planet Daily News GCash Cryptocurrency head Luis Buenaventura said that as the market has already digested the expected interest rate cut by the Fed this month, this policy adjustment is unlikely to have a direct impact on Cryptocurrency prices. However, historical data shows that when BTC has a 50% increase within 60 days, there is about a two-thirds probability of an additional 35% increase in the following two months, so the BTC pump momentum is likely to continue. Neal Wen, Global Head of Business Development at Kronos Research, added that in a low-interest-rate environment, institutional investors tend to see encryption assets as an alternative to traditional investments. Min Jung, a research analyst at Presto Labs, pointed out that the market focus has shifted to Federal Reserve Chairman Powell's policy speeches and the latest economic forecast dot plot, which will provide important guidance for the monetary policy outlook in 2025. (Decrypt)