news 
Bitcoin Unable to Recover $100,000 So Far, Here’s What’s Next, Top Analyst Reveals
The crypto market has been in a tumultuous state of affairs as the price of bitcoin, the world’s most valuable cryptocurrency, failed to break through the psychologically important milestone of $100,000. In a shocking turn of events, the asset has struggled to regain its previous all-time high, and experts are now weighing in on what this could mean for the future of the market.
As per a recent statement made by top analyst Yuri Molchan, “The fact that bitcoin was unable to recover above $100,000 is a sign that the Fed’s dovish stance has begun to lose its steam. The crypto rally fueled by the rate cuts has lost momentum, and it will be difficult for it to regain pace.”
In light of this development, Mr. Molchan believes that “the global monetary policy pivot towards hawkishness will not have a significant impact on the cryptocurrency market. Instead, we can expect the Fed’s tightening cycle to lead to increased volatility in the crypto space.”
The Bitcoin rally was fueled by the Fed’s several rate cuts which added a flow of liquidity to the market
Source: u.today
