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 <h2 id="can-bitcoin-rise-to-70000-if-fed-cuts-interest-rates">Can Bitcoin Rise To $70000 If Fed Cuts Interest Rates?</h2> 
 <p>Macroeconomic analysts are trying to predict when the U.S. Fed will stop raising interest rates or pivot since the central bank continued to hike rates after the bank collapse in March. Meanwhile, the Fed’s balance sheet has decreased amid the debt ceiling crisis.</p>  
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 <p>The <a rel="noopener noreferrer nofollow" title="U.S. Federal Reserve" href="https://thebittimes.com/tag/u-s-federal-reserve.html">U.S. Federal Reserve</a> is likely done with rate hikes as the jobs market cools and the unemployment rate climbed last month. In addition, traders are awaiting the CPI and PPI data this week to confirm the market direction.</p> 
 <p><a rel="noopener noreferrer nofollow" title="Arthur Hayes" href="https://thebittimes.com/tag/arthur-hayes.html">Arthur Hayes</a> said the reason why <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> failed to reach $70,000 after March is that people focused more on nominal Fed rates and did not compare them to high nominal GDP growth in the US.</p> 
 <blockquote> 
  <p>“It seemed the Fed’s only option was to cut rates, restore the health of the US banking system, and watch <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> quickly march towards $70,000.”</p>  
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 <p><strong>Also Read: Binance Files Opposition And Joint Motion With US SEC Concerning Confidential Docs</strong></p> 
 <p>Hayes said during a keynote at the Korea Blockchain Week conference, he was asked about whether <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> can still rise if the Fed continues to raise rates. <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> has a positive relationship with Fed policy and other macro factors. Currently, it hints at an upcoming rally in <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> as real rates (US 2Yr Treasury Yields minus nominal GDP growth) are turning positive.</p> 
 <p>BTC price currently trades at $26123, up 2% in the last 24 hours. The price started rising amid buying by traders, with trading volume rising 100% in the past 24 hours.</p> 
 <p><strong>Also Read: Binance Announces Support For Terra Luna Classic (LUNC) Network</strong></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-can-quickly-rally-to-70000-after-fed-decision-hayes-tbt62417.html">https://thebittimes.com/bitcoin-can-quickly-rally-to-70000-after-fed-decision-hayes-tbt62417.html</a></p>

Bitcoin Can Quickly Rally To $70000 After Fed Decision: Hayes

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