[Analysis] "Crypto Market Returns Last Year's Gains Amid US Rate Cut Adjustment Speculation"
Summary
- Cryptocurrency market has reportedly returned most of last year's gains due to the possibility of U.S. rate cut adjustments.
- Particularly, after showing a rally along with the U.S. stock market in November last year, the basis for rate cuts has weakened recently due to improved employment data.
- Accordingly, 10X Research stated that the cryptocurrency market is significantly influenced by macroeconomic factors.
An analysis has emerged indicating that the current cryptocurrency market is moving under the influence of macroeconomic factors.
On the 13th (local time), 10X Research stated via its official X (formerly Twitter), "Macroeconomic factors are acting as the main trigger in the current cryptocurrency market cycle. Recently, the belief that the U.S. Federal Reserve (Fed) will adjust the pace of rate cuts has led to the return of most of the gains from the end of last year."
10X Research further analyzed, "After Donald Trump's election victory in November last year, both the U.S. stock market and the cryptocurrency market experienced a rally, but most of the gains were quickly returned after December 6. At that time, non-farm payroll data rebounded to 227,000, and the unemployment rate fell below expectations. The Fed implemented rate cuts due to concerns about a weakening U.S. economy, but the basis for this has weakened."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin drops intraday to the $72,000 level… debate over 'safe-haven credibility' reignited](https://media.bloomingbit.io/PROD/news/e3aeb7f7-851b-4479-bfd0-77d83a3b7583.webp?w=250)
