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Bitcoin has experienced a remarkable rebound, climbing to $93,000, following the release of recent financial data from the U.S. This shift comes after a period of stagnation and subsequent decline, with the U.S. Dollar Index reaching unprecedented levels that have led to a bear market sentiment among cryptocurrency traders since Bitcoin’s peak of $108,000. How Will the Federal Reserve Impact Crypto?What Could Boost Bitcoin’s Value Soon? How Will the Federal Reserve Impact Crypto? Market forecasts suggest that the Federal Reserve will likely hold interest rates steady during its upcoming meeting on January 29, with a staggering 97% chance of no changes. While initial expectations indicated two potential rate cuts by 2025, robust employment figures have tempered these hopes to just one anticipated reduction. What Could Boost Bitcoin’s Value Soon? The cryptocurrency market is beginning to adapt to the likelihood of a single rate cut in 2025. Interestingly, the current landscape may not lead to further decline. Should inflation decrease or employment figures weaken in the near future, traders might anticipate additional cuts this year, potentially favoring cryptocurrencies. Bitcoin must stay above the critical threshold of $91,500 for a potential upward trend. Upcoming U.S. inflation data could significantly impact market sentiment. Positive inflation reports may lead Bitcoin towards a target of $150,000. With Bitcoin’s ability to maintain its value amidst challenging conditions, optimism is growing. Key economic indicators, including U.S. Producer Inflation data and core inflation reports, are set to be released soon, and their outcomes will play a vital role in determining the market’s trajectory. If inflation rates drop below expectations, this could pave the way for a bullish trend in Bitcoin and the wider cryptocurrency market. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore…

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Filed under: News - @ January 10, 2025 10:18 pm