$BTC Expectations of a global interest rate cut by the U.S. Federal Reserve are providing a solid basis for confident growth in cryptocurrency. The White House is heavily pressuring Fed Chair Powell, either threatening him with a quick replacement or simply dismissing any arguments in favor of observations. The latest June employment statistics in the States turned out strong, and in a standard approach, the Fed would have used it as a reason to do nothing and observe.
But times have changed. U.S. President Donald Trump demands decisions, regardless of how much they will ultimately cost. In this light, the chances of a Fed rate cut are higher than a neutral stance. This is what cryptocurrency investors will keep in mind.
The week demonstrated the resilience of the crypto market to external fluctuations and confirmed the interest from major players, including institutional funds, investment banks, and infrastructure companies.
According to GIS Mining, if the BTC price manages to stabilize above $110,000, the next target will be $113,000. There are more than enough reasons for a jump upward.