- Ryan Lee, chief analyst at Bitget Research, mentioned the potential for a US Federal Reserve interest rate hike as the reason for the recent Bitcoin adjustment.
- The potential interest rate hike has reduced the attractiveness of virtual asset investments, and the tightening monetary policy is intensifying market adjustments.
- He analyzed that the interaction between the virtual asset market and macroeconomic indicators will significantly impact market performance and investor choices.
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According to Cointelegraph on the 8th (local time), Ryan Lee, the chief analyst at Bitget Research, stated, "The recent Bitcoin (BTC) adjustment is due to the potential for a Federal Reserve interest rate hike following positive US economic indicators." He added, "This has reduced the attractiveness of virtual asset investments, and the signal of a tightening monetary policy has further intensified market adjustments."
He further analyzed, "The interaction between the virtual asset market and macroeconomic indicators in the coming weeks will have a significant impact on overall market performance and investor choices."
Meanwhile, BTC is trading at $93,594.36, down 2.36% from the previous day, based on the Binance Tether (USDT) market as of 03:38 on the 9th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.PiCK News
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