Bitcoin may benefit as global tightening slows, Binance Research says
Summary
Binance Research said a slowdown in central-bank rate hikes could improve Bitcoin’s macro outlook before rate cuts begin. It noted that Bitcoin’s six-month returns turned positive in February 2023, before tracked central banks started cutting, and that Bitcoin’s strongest six-month return in 2024 coincided with tightening measures. The report said the direction of global policy may matter more than its level. Meanwhile, Fed Governor Christopher Waller signaled support for a December rate hike, and market-implied odds of a quarter-point increase rose to 96.3%. Bitcoin was down 3.5% over the week and 30% over the year, trading about 41% below its all-time high.
