Bitcoin continues to exhibit volatility influenced by global economic processes and market movements.
Current Bitcoin Situation
In the past 24 hours, Bitcoin rose by 2%, recovering from a daily low to an intraday high. This underscores the cryptocurrency's sensitivity to broader market forces.
Impact of Macroeconomic Factors
Geoff Kendrick from Standard Chartered believes that Bitcoin's recent dip wasn't due to fundamental weaknesses. He highlights macroeconomic processes and the development of leading tech stocks as key influencing factors.
Future of Bitcoin
Kendrick also suggests that a potential rate cut by the US Federal Reserve could encourage significant Bitcoin growth. Meanwhile, the rise of high-tech stocks may positively impact Bitcoin's volatility.
Standard Chartered experts suggest that the future development of the cryptocurrency market greatly depends on the Federal Reserve's actions and global economic trends.
