Viewpoint: The Fed’s interest rate cut expectations have been digested by the market in advance. Based on historical data, Bitcoin is likely to continue its upward momentum

Luis Buenaventura, head of cryptocurrency at GCash, said that since the market has already digested the Fed's interest rate cut expectations this month, this policy adjustment is unlikely to have a direct impact on cryptocurrency prices. But according to historical data, when Bitcoin rises 50% within 60 days, there is about a two-thirds probability of achieving an additional 35% increase in the next two months, so Bitcoin's upward momentum is likely to continue. Neal Wen, head of global business development at Kronos Research, added that in a low-interest environment, institutional investors tend to use crypto assets as an alternative to traditional investments. Min Jung, research analyst at Presto Labs, pointed out that the market focus has shifted to the content of Fed Chairman Powell's policy speech and the latest economic forecast dot plot, which will provide important guidance for the direction of monetary policy in 2025. (Decrypt)