Looser Fed policy, global macro trends point to bullish outlook for Bitcoin — Analysts
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The bearish crypto market in early August may have established a tactical bottom for Bitcoin, driven by expectations of looser US monetary policy. Sentiment around crypto assets fell to its lowest since the FTX collapse in November 2022, influenced by recession fears and a stronger Japanese yen. Analysts from ETC Group suggest that a reversal in the Federal Reserve's policy, indicated by Chairman Jerome Powell's comments at Jackson Hole, could lead to rate cuts starting in September. Bitcoin's price is currently $58,385, down nearly 5% over the past month, but projected to see a 31% return in 2024. The cryptocurrency's performance is becoming less sensitive to global growth expectations and more correlated with US monetary policy and the dollar's performance.

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https://www.tradingview.com/news/cointelegraph:57857a39f094b:0-looser-fed-policy-global-macro-trends-point-to-bullish-outlook-for-bitcoin-analysts/