Gemini executive: Crypto market trends may depend on future interest rate cuts, traders are hesitant

According to Fortune, Patrick Liou, head of institutional trading at cryptocurrency exchange Gemini, non-farm data briefly caused bitcoin to rise, but then fell again due to increased uncertainty about the Federal Reserve's interest rate cut during the year, and the current crypto market trend may depend on expectations of future interest rate cuts. Usually lower interest rates are good for cryptocurrencies, as easy economic conditions can prompt investors to return to risky assets. However, the Federal Reserve has not provided a clear direction forward and is still waiting to see whether to cut interest rates, leaving crypto traders in a state of hesitation, "They are not sure yet because inflation has declined, but not at a fast pace."