Uptrend in Bitcoin's Dominance Rate Threatened by Fed Rate Cut Cycle, Crypto Asset Manager Says
Briefly

from Coindesk3 months ago
"Bitcoin Dominance is positively correlated to the Fed Funds rate," SwissOne Capital said in a market update, noting the decline in the dominance rate during the previous rate cutting cycles.
Coindeskhttps://www.coindesk.com/markets/2024/10/10/uptrend-in-bitcoins-dominance-rate-threatened-by-fed-rate-cut-cycle-crypto-asset-manager-says/
The metric fell to nearly 40% in late 2021 as central banks worldwide and governments injected trillions into the financial system to cushion against the impact of coronavirus, leading to unprecedented risk-taking in all corners of the financial market, including alternative cryptocurrencies (altcoins), or tokens other than BTC.
Coindeskhttps://www.coindesk.com/markets/2024/10/10/uptrend-in-bitcoins-dominance-rate-threatened-by-fed-rate-cut-cycle-crypto-asset-manager-says/
The U.S. Federal Reserve's (Fed) rate-cutting cycle may stall the ongoing prolonged uptrend in bitcoin's (BTC) dominance rate, bringing wider gains in the crypto market, according to crypto asset manager SwissOne Capital.
Coindeskhttps://www.coindesk.com/markets/2024/10/10/uptrend-in-bitcoins-dominance-rate-threatened-by-fed-rate-cut-cycle-crypto-asset-manager-says/
The recent start of the U.S. rate cutting cycle certainly points to little further upside if history is to repeat itself."
Coindeskhttps://www.coindesk.com/markets/2024/10/10/uptrend-in-bitcoins-dominance-rate-threatened-by-fed-rate-cut-cycle-crypto-asset-manager-says/
Read at Coindesk
#bitcoin #dominance-rate #us-federal-reserve #crypto-market #rate-cutting-cycle
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