Summary
- 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.
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.
