Gemini executives: Trends in the cryptocurrency market may depend on future interest rate cut expectations, and traders are in a state of hesitation

ChainCatcher news, according to Fortune, Patrick Liou, head of institutional trading at the cryptocurrency exchange Gemini, stated that non-farm data once led to a rise in Bitcoin, but then fell again due to increased uncertainty about the Federal Reserve's interest rate cuts this year. The current trend in the crypto market may depend on expectations for future rate cuts.

Generally, lower interest rates are favorable for cryptocurrencies, as loose economic conditions encourage investors to return to risk assets. However, the Federal Reserve has not provided a clear direction moving forward and is still observing whether to cut rates, leading crypto traders to be in a state of hesitation. "They are still uncertain because inflation has decreased, but the pace of decline is not fast."