Bitcoin Shrugs Off Growing Rate Cut Hopes as Stocks Climb
Bitcoin's price fluctuated around $93,300 on April 24, 2025, after dipping to $91,800 earlier in the day. This stabilization came amidst positive movements in U.S. stocks due to growing hopes for potential rate cuts by the Federal Reserve. Beth Hammack, President of the Federal Reserve Bank of Cleveland, hinted at ‘preemptive’ rate cuts depending on the impact of tariffs imposed by President Trump on China. Meanwhile, Bitcoin ETFs attracted $1.8 billion in inflows, indicating significant institutional dollar presence even as retail activity waned. This trend raises questions about the potential decoupling of Bitcoin from traditional risk assets. Analysts noted that while Bitcoin seems to behave independently, whether this trend will persist remains to be seen.
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