US job growth in June has diminished hopes for a Fed rate cut, negatively impacting Bitcoin's price. Analysts anticipate the Fed maintaining stable interest rates, putting pressure on cryptocurrencies.
Bitcoin price is targeting $118K as odds of a Fed rate cut in September have surged to 94%. Analysts predict Bitcoin could reach new highs, provided it breaks through key resistance levels. Market sentiment remains cautiously optimistic.
Amid market disappointment over the U.S. Federal Reserve's decision to keep interest rates unchanged, Michael Saylor, the Executive Chairman of Strategy, remains steadfast in his conviction in Bitcoin. Saylor's stance highlights a strategic view that sees Bitcoin as a critical component for economic resilience, independent of traditional monetary policies .
