Ted highlighted, “This week is crucial for maintaining BTC’s (and by extension, the broader crypto market’s) short-term trend.” Related Reading: Financial Giant AllianceBernstein Predicts Bitcoin At $1 Million, Here’s When Ted also pointed out the performance of US tech stocks, particularly the NASDAQ, which has recently hit new all-time highs.“US tech stocks are certainly feeling the disinflationary vibes, with the NASDAQ breaking out to new all-time highs in anticipation of easier central bank policy to come,” he noted.
Ted mentioned, “It’s not expected that the Australian or Swiss Central Banks cut rates at this week’s meeting, but rather remain on hold.” ETF flows, which slowed last week due to market jitters ahead of key macro events, are also expected to play a critical role.
Ted explained, “The March dot plot indicated cutting rates 2-3 times in 2024, but June’s dot plot suggests only 1-2 cuts should be expected.” This alignment between the Fed’s projections and market expectations likely provides the central bank with greater flexibility in future communications about interest rates.
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