Stable Bitcoin After The Fed's Interest Rate Cut, This Is The Determinant Factor

Illustration of Bitcoin (photo: Unsplash)

JAKARTA - The price of Bitcoin (BTC) remains above the psychological level of US$90,000 or around Rp. 1.49 billion, driven by a strong technical signal and market response to the Fed's rate-cutting policy.

However, Tokocrypto analyst, Fyqieh Fachrur, said that pressure from whale profit taking and ETF outflows were still a limiting factor for further increases.

Fyqieh assesses that the current technical signal provides a positive foundation for Bitcoin price movements. Because, as long as Bitcoin is able to stay above the 90,000 US dollars zone, its technical structure is still relatively healthy and opens up opportunities for further strengthening.

In addition, he added, the Bitcoin rebound also occurred as the Fed's third interest rate cut this year, although the market's initial movement had followed the 'buy the rumors' pattern, sell the news.

Historically, the post-cutting consolidation phase of interest rates is often followed by a larger rebound after selling pressure eases, explained Fyqieh in a statement.

Fyqieh added that lower interest rate policies remain a positive catalyst for risky assets such as crypto.

Dalam jangka panjang, penurunan suku bunga meningkat rasa risiko dan aliran modal ke aset alternat seperti Bitcoin. Sebagai sentimen makro tetap kondusif, potensi reli lanjutan masih terbuka," ujarnya.

Bitcoin's resilience above $9.000 reflects a combination of technical forces and selective institutional interests, although it is still overshadowed by whale profit and ETF outflows.

"Investors are advised to pay close attention to intraday trading volume as a confirmation of the direction of the next trend," said Fyqieh.