According to BlockBeats, on July 31, Matthew Sigel, head of digital asset research at VanEck, stated: "Bitcoin is a tool for hedging against currency devaluation. If the Federal Reserve hints at a more accommodative policy in the future, the cryptocurrency market is likely to interpret it as a green light."
Joel Kruger, a market strategist at LMAX Group, said: "Everyone's attention will be focused on the upcoming cryptocurrency policy report from the Federal Reserve and the White House. Any dovish remarks from the Federal Reserve or hints from the White House about strategically purchasing Bitcoin reserves could quickly reverse Bitcoin's recent weakness."
