{"id":572361,"date":"2024-09-03T14:52:39","date_gmt":"2024-09-03T14:52:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=572361"},"modified":"2024-09-03T14:52:39","modified_gmt":"2024-09-03T14:52:39","slug":"bitcoin-price-prediction-as-arthur-hayes-explains-why-fed-rate-cuts-arent-boosting-btc-bulls-flock-to-buy-this-shib-2-0","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-as-arthur-hayes-explains-why-fed-rate-cuts-arent-boosting-btc-bulls-flock-to-buy-this-shib-2-0","title":{"rendered":"Bitcoin Price Prediction: As Arthur Hayes Explains Why Fed Rate Cuts Aren’t Boosting BTC, Bulls Flock To Buy This SHIB 2.0"},"content":{"rendered":"

The Bitcoin price rose 1% in the last 24 hours <\/span>to trade at $59,234<\/span><\/a> as of 00:49 a.m. EST despite trading volume dropping 16% to $23.8 billion.<\/span><\/p>\n

The Federal Reserve is on the verge of cutting interest rates, following the European Central Bank (ECB), the Bank of England, and the People’s Bank of China. There is now a 76% chance that the Fed will cut interest rates by 0.25% points this month.<\/span><\/p>\n

Arthur Hayes, co-founder and former CEO of BitMEX, has shared his reasons why the Fed’s interest rate cuts may not significantly affect the Bitcoin price.<\/span><\/p>\n

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My theory on why Fed rate cuts aren't going to plan.<\/p>\n

Since JAYPOW annc Sept rate cut at J-Hole, $BTC<\/a> down 10%, y? I thot rate cuts were good for risk assets.<\/p>\n

RRP pays 5.3% no T-bill under 1-yr maturity pays more. MMF will move money from T-bill -> RRP which is $ liq -ve.<\/p>\n

Since…<\/p>\n

— Arthur Hayes (@CryptoHayes) September 2, 2024<\/a><\/p><\/blockquote>\n