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Federal Reserve May Cut Rates Early, Bitcoin Target Price Reaches $112,000
According to Cointelegraph, market analyst Carlo Pruscino stated that if the Federal Reserve cuts interest rates earlier than expected, it could push Bitcoin's price back up to $112,000.
On May 22, Bitcoin reached a new high of $111,970, but has since fallen back to $102,766. The market expects the Federal Reserve to maintain interest rates between 4.25% and 4.50% on June 18.
Pruscino pointed out that the Federal Reserve has enough data to make a decision, but Trump's tariff policies remain an unknown factor. The U.S. employment report will be a key indicator for interest rates and Bitcoin price trends.
The U.S. International Trade Court had previously blocked Trump's tariff increases, but the appeals court allowed them to proceed, and Trump recently raised foreign steel and aluminum tariffs to 50%.
On May 22, Bitcoin reached a new high of $111,970, but has since fallen back to $102,766. The market expects the Federal Reserve to maintain interest rates between 4.25% and 4.50% on June 18.
Pruscino pointed out that the Federal Reserve has enough data to make a decision, but Trump's tariff policies remain an unknown factor. The U.S. employment report will be a key indicator for interest rates and Bitcoin price trends.
The U.S. International Trade Court had previously blocked Trump's tariff increases, but the appeals court allowed them to proceed, and Trump recently raised foreign steel and aluminum tariffs to 50%.
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