Following the evaluations of the American Central Bank (Fed) Chairman on inflation and interest rate forecasts, the value of Bitcoin rose to $66,000. In addition to the expected three interest rate cuts for 2024, it was reported that only one more cut is expected. The Fed Chairman stated that there is no significant change in the interest rate expectations for 2025 and 2026, and that the inflation data in the first two months of the year is related to seasonal factors. He also suggested that the first half of the year may be an appropriate time for interest rate cuts.
Bitcoin’s Rise
Visible gains were seen in Bitcoin and altcoins after the Fed meeting. It is stated that in case the inflation data for March, to be announced next month, is positive, an optimistic atmosphere may prevail in the markets and investors’ excitement for the halving period may increase.
Optimistic Crypto Market
The scenarios of concern for the crypto markets have not materialized yet, and the pressure on investors has eased in the short term. While American stock markets gained, the dollar index (DXY) lost value. Significant entries are expected for Bitcoin ETFs, and it is expected to support the rise in the market.
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