Bloomberg: The upcoming policy adjustments from the Federal Reserve are making investors nervous, causing BTC to fall below the $60,000 mark
Before the general expectation that the Federal Reserve will cut interest rates later this week, Bitcoin fell below the $60,000 mark. The upcoming policy adjustment by the Fed has made global markets nervous. The first rate cut in more than four years in the United States signifies a looser financial environment, which is usually a positive backdrop for riskier assets such as cryptocurrencies. However, investors are uncertain about Wednesday's rate hike magnitude and how the market will react to the latest forecasts (so-called dot plots) from Fed officials and Chairman Powell's briefing. Sean McNulty, head of trading at liquidity provider Arbelos Markets said: "The signals sent out at press conferences and recent dot plots are more important than rate cuts. If guidance and press releases are noticeably dovish, we expect Bitcoin to rise."
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