Analyst: The White House's encryption policy framework may drive Bitcoin back to the $120,000 level

Odaily News 21 Shares research strategist Matt Mena stated that the market will face dual factors this week: the market generally expects the Fed to keep the Intrerest Rate unchanged, while potential key Personal Consumption Expenditure (PCE) data may determine the direction of interest rate cuts later this year. A more moderate PCE monetary policy and substantial White House Crypto Assets policy framework are expected to bring Bitcoin back to the $120,000 level and “drive price discovery.” If the Fed keeps the Intrerest Rate unchanged today, traders will begin to focus on the meeting in September, where a rate cut may occur, provided that inflation cools and labor data remains stable. (The Block)