Crypto Daily – As Bitcoin (BTC) consolidates after breaking out of its bull flag, the environment ahead for the number one cryptocurrency looks promising. Federal Reserve rate cuts are expected to be made going into the end of this year and through the first half of 2025. This monetary easing is likely to help Bitcoin to thrive.
A change in market sentiment
Market sentiment for Bitcoin is very different right now. The $BTC price put on more than 9.5% over the last three days, equating to a dollar gain of $5,900. The Fear and Greed Index, which measures market sentiment, spiked from registering Fear at 39 only last week, to Greed at 71 currently.
All this new-found positive market sentiment will probably have been sparked by a combination of factors. However, one factor that is really making the difference is the amount of liquidity that is being pumped into the monetary system, and the increasing liquidity that is predicted to arrive over the coming months.
