What's Next for the Bitcoin (BTC) Price as Fed Rate-Cut Bets Rebound: Crypto Daybook Americas
Bitcoin is pulling back after a weekend bounce, with analysts suggesting a quick year-end rally is unlikely amid institutional capitulation.Summary
Bitcoin (BTC) is experiencing a pullback, dropping to $86,000 from $88,000, following a four-week losing streak marked by institutional capitulation, making a quick rally to $100,000 unlikely. A potential rebound hinges on U.S. economic data this week (PPI, retail sales, GDP, PCE) supporting a December interest rate cut, as traders currently assign a 75% probability to a reduction following dovish Fed remarks. Analysts note that easing inflation would likely attract marginal crypto buyers, but investors should recognize the shift from the pre-Covid Fed-dominance era to the current "fiscal dominance/state capitalism" environment, where government debt reduction strategies, rather than central bank stimulus, will shape asset performance.
Key market movements show BTC at $86,003.98, while the CoinDesk 20 Index is at 2,753.16. Spot BTC ETFs saw $238.4 million in net inflows, bringing total holdings to 1.31 million BTC. In other news, Monad's mainnet is launching, and Grayscale's DOGE and XRP spot ETFs are expected to go live. Furthermore, Bitcoin miners are reportedly reviving operations in China despite the 2021 ban, capitalizing on surplus power.
(Source：CoinDesk)