Opinion: Crypto market trends may depend on future rate cut expectations, traders are in a state of hesitation

Odaily News Patrick Liou, head of institutional trading at cryptocurrency exchange Gemini, said that the non-farm data once caused Bitcoin to rise, but then it fell again due to the increased uncertainty of the Federal Reserve's interest rate cuts this year. The current trend of the crypto market may depend on expectations of future interest rate cuts. Usually lower interest rates are good for cryptocurrencies because loose economic conditions will prompt investors to return to risky assets. However, the Federal Reserve has not provided a clear direction forward and is still waiting to see whether to cut interest rates, causing crypto traders to be hesitant. "They are not sure yet because inflation has declined, but the decline is not fast." (Fortune)