Bitcoin's Price Outlook Despite Fed's Interest Rate Pause
Despite the US Federal Reserve's decision to pause interest rates, Bitcoin's price has remained below $26,300 for two months, with investors avoiding the cryptocurrency. CoinShares' latest report shows that the sector's investment product outflows amounted to $88 million in the week ending June 10, adding to the ongoing eight-week streak of outflows, which now total $417 million. Analysts attribute this trend to monetary policy considerations, as interest rate hikes show no signs of slowing down, prompting investors to remain cautious. The upcoming $600 million weekly options expiry on June 16 could lead to a sharp correction below $25,000, as bears are currently in a better position for the expiry.