
Bitcoin finds support as Grayscale points to market bottom
- Grayscale said Bitcoin (CRYPTO:BTC) may have already reached its market bottom.
- The asset manager said expectations of US Federal Reserve rate cuts could support Bitcoin.
- Grayscale said investors should still expect market volatility.
Grayscale said Bitcoin (CRYPTO:BTC) may have already reached its latest market bottom.
The firm said expected US Federal Reserve interest rate cuts could improve conditions for Bitcoin and other risk assets.
Grayscale said lower interest rates have often supported demand for assets such as Bitcoin.
The firm said market uncertainty remains, even if economic conditions become more favourable.
The Federal Reserve's interest rate decisions can influence investor demand for cryptocurrencies and other financial assets.
At the time of reporting, Bitcoin price was $65,314.02.
Frequently asked questions
More from Crypto
Chainlink launches CustodySync for institutional DeFi lending
South Korea weighs education tax on crypto exchanges
RedotPay weighs confidential US IPO filing for year-end
StoneX raises Strive price target to $43
South Korean police arrest seven in AI-powered data theft
Aviva Investors launches tokenised £22 billion liquidity fund