Bitcoin Recuperates on the Back of Predicted Fed Rate Cuts

By: Eva Baxter

According to a cryptoquant firm, the current stability of Bitcoin as Asia initiates its trading day suggests that the risky digital asset is accounting for two, rather than three, Fed rate cuts. This is arguably a direct response to U.S. President Biden's recent assurance that there will be a rate cut 'this year'. This economical interplay appears to facilitate a favourable context for Bitcoin's price recovery.