The essential thing to consider is the rate of change in the money supply, the first derivative of the money supply

For two years between 2020 and 2022, the US Federal Funds rate was 0.25%.

While BTC bulls have been failing to reach the $30K mark, bears have also had a tough time getting below $25K.

Crypto market liquidity has been drying up after last year’s cascading liquidations that wiped out major players and dampened the market sentiment.

The Fed keeps rates at 5.25-5.55%, but raises inflation forecasts for 2024. Markets expect more than one rate cut. How will this impact crypto markets?

Last week, the US Federal Reserve lowered the rate as most analysts expected.