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Analyst: Monetary Easing Expectations Fully Priced In, Interest Rate Cut Unable to Propel Bitcoin Rebound Above $120,000
BlockBeats News, September 8, BTC Markets cryptocurrency analyst Rachael Lucas stated: "The soft US job report did trigger expectations for a more dovish stance from the Federal Reserve, which usually supports risk assets such as Bitcoin. However, the market has already digested a certain degree of policy easing. At the same time, we see institutional investors taking profits, while ETF fund flows remain relatively stable. Bitcoin's resistance is at $113,400, with further resistance at $115,400 and $117,100. Breaking through these resistance levels indicates that the market has absorbed recent selling pressure and is ready to retest highs."
Kronos Research Chief Information Officer Vincent Liu also stated that even if the Federal Reserve decides to lower interest rates, the Bitcoin price may still remain subdued. "Rate cuts may reflect a weak economy, while persistent high inflation and cautious risk sentiment limit risk appetite. Without stronger ETF inflows or true liquidity expansion, surpassing $120,000 remains a formidable barrier."
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