Tags: fomc

Federal Reserve Expects Rate Cuts in 2024 But Path Remains Foggy, Minutes Reveal

Crypto Analyst Predicts Market is Gearing Up For a Bull Run

(Kevin Dietsch/Staff/GrettyImages/PhotoMosh)

Jerome Powell (Drew Angerer/Getty Images)

Bitcoin‘s bullish trend continues as it reaches a 10-month high weekly close, with obstacles still to overcome.

Bitcoin’s outperformance relative to ether highlights a flight to safety. The assets’ normally tight correlation has decoupled periodically in recent weeks.

The two data points may show whether bitcoin moves higher or declines further in the aftermath of the U.S. central bank‘s 25 basis point rate increase Wednesday.

Recent bank failures had market participants questioning if the U.S. central bank would follow through with its previous intention to further tighten monetary policy.