Bitcoin News: Analysts Say Fed Rate Cuts Unlikely to Push Bitcoin Above $120K

Key Takeaways:Analysts warn that expectations of monetary easing are already priced in, limiting Bitcoin’s upside.BTC faces resistance at $113,400, $115,400, and $117,100, with profit-taking by institutions.Without stronger ETF inflows or liquidity expansion, Bitcoin may struggle to reclaim $120K.Bitcoin’s chances of breaking above $120,000 remain slim even if the U.S. Federal Reserve moves forward with interest rate cuts, according to market analysts.Rachael Lucas, a cryptocurrency analyst at BTC Markets, noted that the weak U.S. employment report has fueled expectations of a more dovish Fed stance, which typically supports risk assets like Bitcoin. However, she stressed that “the market has already digested a certain degree of policy easing.”Lucas added that institutional investors are taking profits, while ETF flows remain stable but unspectacular. She identified resistance at $113,400, $115,400, and $117,100, and said a breakout above these levels would signal the market has absorbed recent selling pressure.Vincent Liu, CIO of Kronos Research, echoed the cautious outlook, arguing that rate cuts may not be bullish in the current environment. “Rate cuts are likely to reflect a weakening economy, while persistently high inflation and cautious risk sentiment are limiting risk appetite,” Liu explained. Without a pickup in ETF inflows or liquidity expansion, he warned, Bitcoin will struggle to break through the $120,000 barrier.