Analyst: If the Federal Reserve later signals a clear interest rate cut, Bitcoin may hit a new high in Q4

BlockBeats News, October 8th: While gold surged to a historic high above $4,000 per ounce for the first time, the price of Bitcoin experienced a slight pullback. This pullback was triggered by profit-taking in the crypto market after a rapid 7.7% surge in less than a week, along with substantial gains in whale accounts. Furthermore, the US Dollar Index has climbed to a two-month high. However, institutional interest in Bitcoin remains strong: Last week, the US Bitcoin spot ETF saw a net inflow of over $3 billion, pushing the total net inflow past the $60 billion mark, with an additional $2 billion injected this week.

Analyst Linh Tran stated, "In the short term, Bitcoin's fundamentals continue to look favorable, supported by expectations of monetary easing, consistent ETF inflows, and ongoing safe-haven demand. If the Federal Reserve signals a clearer start to an easing cycle in upcoming meetings, Bitcoin could potentially explore new price territory in the fourth quarter." The next key test may come from the Federal Reserve—traders have begun betting on rate cuts, and if the officials confirm a policy shift, gold and Bitcoin may regain upward momentum. (FXStreet)