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Crypto

Bitcoin Holds Steady at $80,000 Amid Fed Rate Hike Fears

Guavy AI Editorial Team
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BTC
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Bitcoin has been holding steady around $80,000, with a 2.5% price increase over the past week.

Analysts are assessing whether this growth will continue or if it's just a temporary reprieve amidst expectations of a US Federal Reserve rate hike.

Alexander Krayko, lead analyst at Cifra Markets, notes that the current market resembles early 2023 when Bitcoin rose from $15,000 to $20,000 before spot Bitcoin ETFs were launched in the US.

According to Krayko, the current combination of price recovery, institutional demand, and hopes for clearer regulations is similar to what happened then.

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