Fed Rate Hike Fails to Lift Bitcoin as US Demand Remains Weak

CryptoQuant's analyst believes that even if the US Federal Reserve maintains its interest rates, it will not be enough to boost Bitcoin. This is because American demand for cryptocurrency is weak, putting downward pressure on prices.

The analyst notes that maintaining interest rates has become a normal policy for the Fed in recent times. However, this move alone may not have a significant impact on the crypto market, particularly if US demand remains low.

According to CryptoQuant's analysis, Bitcoin's price is likely to remain under pressure despite any potential rate decisions by the Federal Reserve.