The price of Bitcoin fell to a 5-week low Monday, as markets adjusted to the prospect of tighter monetary policy from the Federal Reserve.
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Duong added that his team is “still cautiously optimistic” about Bitcoin’s performance in the first fiscal quarter, but he recognized that “the path is unlikely to be a smooth one.”
Lower interest rates tend to be supportive of risk assets like stock and crypto. At the same time, they can contribute to inflation through lower borrowing costs and increased spending.
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