Analyst: If the Federal Reserve releases a clear signal of interest rate cuts, bitcoin may reach a new all-time high in Q4

BlockBeats News, October 8 — As gold broke through the $4,000 per ounce mark for the first time in history, the price of bitcoin instead saw a pullback. This correction was triggered by profit-taking after the crypto market surged 7.7% in less than a week, and whale accounts have already recorded considerable unrealized gains. In addition, the US Dollar Index is climbing to a two-month high. However, institutional interest in bitcoin has not waned: last week, US spot bitcoin ETF net inflows exceeded $3 billions, pushing the total net inflows past the $60 billions milestone, with another $2 billions injected this week.

Analyst Linh Tran stated, "In the short term, bitcoin's fundamentals remain strong, with expectations of monetary easing, continuous ETF inflows, and persistent demand for safe-haven assets forming a triple support. If the Federal Reserve signals a clearer start to the rate-cutting cycle at upcoming meetings, bitcoin may be able to expand into new price territory in the fourth quarter." The next key test may come from the Federal Reserve—traders have already begun betting on rate cuts, and if the authorities confirm a policy shift, gold and bitcoin could regain upward momentum. (Golden Ten Data)