Bitcoin aims for $25K as institutional demand increases and economic data soothes investor fears
1 min read
Bitcoin (
Traders are watching to see if the Fed broadcasts plans to pivot
While Bitcoin’s 40.5% gain in 2023 look promising, the fact that the Nasdaq tech-heavy index rallied 10% in the same period raises suspicions. For instance, the street consensus is a pivot on the Federal Reserve (FED) quantitative tightening policy at some point in 2023 — meaning interest rates would no longer be increased.
Bitcoin derivatives and stablecoin demand exited the panic levels but if the FED’s expected soft landing takes place, the risk of a recessionary environment will limit stock markets’ performance and hurt Bitcoin’s “inflation protection” appeal.
Currently, the odds favor bulls as leading economic indicators show a moderate correction — enough to ease the inflation but not especially concerning as solid corporate earnings confirm.
The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
