The Bitcoin Prize currently has a bullish perspective, with the chances that an American recession is performing this year reaching new heights. In the midst of this recession, this fear and this uncertainty of the market, the Crypto Titan cryptography analyst predicted that an escape from the BTC is on the horizon, the flagship crypto soon reaching new heights.
Bitcoin Price suggests an escape as concerns of recession increase
In a X postTitan of Crypto said the Bitcoin Prize out of the range and looks strong. He added that a daily fence greater than $ 96,200 would confirm the move and opened the door to $ 99,000.
In another article, the analyst predicted that the flagship crypto could come together up to $ 125,000, which will mark a new summit of all time (ATH). He noted that BTC has rebounded on the orange line of the gold ratio multiplier and now aims at the blue line, which is the target of $ 125,000.
This upward perspective for the price of Bitcoin is the probability of an increase in the American recession at the new summits. Polymarket data shows that there is now 62% of chance that a recession occurs this year, a development that could be optimistic for BTC and Altcoins.
It should be mentioned that BTC already reacts positively to this development, because it has reached the $ 97,000 mark today. The Ethereum price and other altcoins have also recorded notable gains.
American Federal Reserve in Crossroads and what it means for the cryptography market
Market commentator The Kobeissi letter noted how the American federal reserve is currently at the crossroads, the Q1 GDP data and the inflation data of the PCE showing that stagflation in the aggravated country. They pointed out that the United States faced an increasing inflation with a weakened economy, which means that the Fed is “officially in a losing situation”.
Indeed, the Powell and the Fed have, for some time, hesitated to reduce rates due to the inflationary pressures caused by the prices of Donald Trump. However, with the slowing American economy, they must make a difficult decision.
Kobeissi's letter noted that the Fed must choose between containing inflation or unemployment. They have added that the non-reduction of interest rates will still weaken GDP and will probably increase unemployment. However, if the interest rates are reduced immediately, there will probably be another rebound in inflation.
A drop in Fed rates would be optimistic for the price of Bitcoin because it would inject more liquidity into the flagship crypto. However, as Coingappe indicated, the American central bank is unlikely to reduce rates to this FOMC meeting.
Instead, traders are looking forward to the Fed which releases its monetary policies from June. In the meantime, Bitcoin could continue to rally in the middle of this market uncertainty caused by prices and a lack of clarity on the next Fed decision.
Boluwatife Adeyemi
Boluwatifone Adeyemi is a writer and publisher of new experienced crypto who has covered subjects that have crossed several subjects and niches. Boluwatife has the talent to simplify the most technical concepts and facilitate understanding of cryptographic beginners. Far from writing, he is a passionate basketball lover, a traveler and a part-time dengen.
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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