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While spot ETF approvals and the expected Bitcoin halving continue to be the focus of 2024, there is also talk of when the FED will cut interest rates.
At this point, while the market expects the FED to cut interest rates in March, not everyone has the same opinion.
Because one of them was BlackRock.
Speaking to Bloomberg, BlackRock senior macro investment strategist Laura Cooper said that they do not expect the FED to cut interest rates in the next few months.
Stating that the FED will not start interest rate cuts in March at this point, Cooper said that this week's retail sales pressure shows the resilience of the US economy and clearly shows that the Fed can postpone interest rate cuts.
“Considering that inflation is still above the 2 percent target, I think the FED will start reducing interest rates in June at the earliest.
I also expect the FED to start reducing interest rates before the European Central Bank (ECB).
“I predict that the FED will reduce interest rates by 75-100 basis points by the end of 2024.”
The BlackRock official also stated that he expects a stronger US dollar this year, which could prevent BTC's rise near Bitcoin's halving.
Because there is an inverse correlation between the dollar and Bitcoin, and the strong US dollar causes selling pressure on Bitcoin.
*This is not investment advice.