There has been a great debate among analysts about the impact of the U.S. Federal Reserve's decision on Bitcoin, with some denying and others affirming.
The U.S. Federal Reserve decided to lower the U.S. dollar $ after 9 members voted to cut interest rates, while 3 other members opposed the decision.
The decision was to set the reference interest rate in the range of 3.5% to 3.75%, marking this the third cut while inflation in the United States remains relatively stable.
This decision affected Bitcoin BTC
The relationship between the U.S. dollar and Bitcoin is an inverse one; as the dollar's interest rates increase, Bitcoin is negatively impacted, and as they decrease, Bitcoin is positively impacted.
This is because investors tend to invest in assets that yield more than the dollar, represented by three main things: real estate, stocks, and cryptocurrencies, with Bitcoin at the forefront.
In fact, Bitcoin was affected and began to rise, reaching $94,000, but quickly fell again. What is the reason?
The reason is fundamental: some investors and companies engaged in profit-taking, which caused an increase in supply that did not match demand. Consequently, some buyers retreated due to the increased supply, hence it did not break the $95,000 barrier.$BTC .
The result is that Bitcoin was affected, but there was another influencing factor: supply and demand, which diminished the impact of the Federal Reserve's decision.
It seems to anyone watching Bitcoin's movement that it may break the $100,000 barrier in the near future, especially if confirmations from the Federal Reserve about the cuts are issued. However, this rise is not guaranteed and may fluctuate for a while between $95,000 and $100,000.
Note that #Bitcoin is currently trading above 92,000$BTC
#BTC #بتكوين #الفدرالي_الأميركي #الفدرالي
