Bitcoin Faces Potential Economic Headwinds Amidst Rate Cuts
Bitcoin's stability is at risk with upcoming economic shifts and Fed rate cuts.

Bitcoin's stability is at risk with upcoming economic shifts and Fed rate cuts.
The Financial Services Commission (FSC) in South Korea issued a notice emphasising the obligation for investors in digital assets to receive interest on their deposits into exchanges by July 2024. Notably, the guidance excludes nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) from this regulation.
They have opened a data room for potential buyers to begin their due diligence
United States interest rates are touted to grow less than expected, which has got crypto markets onto a slightly more positive sentiment.
European Central Bank policymakers appeared increasingly worried that high inflation could become entrenched.
Crypto prices immediately came crashing down after the Fed announced they are increasing interest rates during an economic summit.
The Bank of England raised its key interest rate to 2.25% from 1.75% on Thursday and would continue to “respond forcefully, as necessary” to inflation.
The FOMC announced a 75-bps rate hike on Sept. 21. BTC fell by 6.45% right after the announcement.
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