Will This Have An Impact on Bitcoin’s (BTC) Price Rally?

TL;DR

• Bitcoin enthusiasts and investors are anticipating a potential surge in Bitcoin prices following the possible SEC approval of a Bitcoin spot ETF, which is expected to attract more investment into the cryptocurrency.
• The Federal Reserve’s decisions on interest rates are crucial to Bitcoin’s price movement, with the upcoming December meeting being particularly significant. A rate cut could lead to an increase in Bitcoin prices due to cheaper borrowing costs and increased demand for risk assets like Bitcoin.
• The direction of Federal Reserve rate adjustments is influenced by the state of the economy, with recent robust GDP growth. If growth continues, the Fed may raise rates to curb inflation, which could slow Bitcoin’s rise. Conversely, a slowdown in growth may lead to rate cuts, potentially fostering conditions for a Bitcoin rally similar to the one during the 2020 pandemic.

Bitcoin market watchers are focused on the long-awaited SEC approval for a Bitcoin spot ETF exchange. Cryptocurrency traders and institutional finance expect the price to rally higher when that happens.