BTC poised for December recovery on ‘macro tailwinds,' Fed rate cut: Coinbase
Coinbase predicts a December recovery driven by rising global M2 liquidity and lower interest rates, but Fed Chair Powell’s remarks may limit upside, analysts say.
Bitcoin’s ‘Santa’ rally may be ignited by macroeconomic tailwinds, including the Federal Reserve’s incoming interest rate decision, but fearful investor sentiment may take another hit by any hawkish remarks from central bank officials.
Improving liquidity conditions and rising odds of a Federal Reserve interest rate cut may catalyze a recovery in the crypto market during December, according to Coinbase Institutional.
“We think crypto could be poised for a December recovery as liquidity improves, Fed cut odds jump to 92% (as of Dec 4), and macro tailwinds build,” wrote Coinbase in a Friday research report.
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