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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/experts-predict-bitcoin-recovery-following-feds-impact-on-prices/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Experts Predict Bitcoin Recovery Following Fed’s Impact on Prices</a><br></p>
<p style="text-align: justify">The founders of the <a href="https://en.coin-turk.com/cryptocurrency-market-outlook-a-week-of-potential-volatility-ahead/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analysis platform Glassnode, Jan Happel and Yann Allemann, assert that the Federal Reserve’s strict policies have led to a decline in Bitcoin prices, yet they foresee a potential recovery for BTC. They communicated to their followers on social media platform X that the Fed’s anticipated fewer interest rate cuts next year have contributed to Bitcoin’s dip below $100,000.</p>
<h2 style="text-align: justify" id="fed-policies-and-bitcoin-prices">Fed Policies and Bitcoin Prices</h2>
<p style="text-align: justify">The founders noted that the net position change metric, which tracks the 30-day supply held on crypto exchanges, continues to signal positive trends. This metric indicates that the decreasing amount of Bitcoin on exchanges is having a favorable effect on the market.</p>
<p style="text-align: justify">Happel and Allemann commented that Fed Chair Jerome Powell’s stern tone caused Bitcoin to drop below $100,000, but they believe Bitcoin could swiftly rebound to this threshold. They also mentioned that the withdrawal rates of Bitcoin from exchanges have reached yearly highs and that a wave of accumulation is ongoing in November, increasing the likelihood of a recovery.</p>
<h2 style="text-align: justify" id="bitcoin-dominance-and-altcoins">Bitcoin Dominance and Altcoins</h2>
<p style="text-align: justify">They indicated that the Bitcoin Dominance Rate (BTC.D), which reflects Bitcoin’s market value compared to other <a href="https://en.coin-turk.com/bitcoin-price-surge-boosts-crypto-focused-stocks/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a>, may show whether <a href="https://en.coin-turk.com/cryptocurrency-market-analysis-and-predictions-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a> will surpass Bitcoin in the coming days. Currently, the BTC.D rate stands at 58.44%.</p>
<blockquote>
 <p>“Bitcoin dominance is seen as a critical moment for year-end dynamics. An increase in dominance could indicate a Bitcoin-focused rally, while a decrease could open the door for altcoins.” – Jan Happel and Yann Allemann</p>
</blockquote>
<p style="text-align: justify">As of the time of writing, Bitcoin is trading at around $96,450, having lost 5.2% in value over the last 24 hours. Experts highlight that the record-high exit rates of Bitcoin from exchanges could positively impact its future performance.</p>
<p style="text-align: justify">Recent trends indicate that alongside the decrease of Bitcoin on exchanges, when combined with overall market dynamics, Bitcoin may enter a recovery process. However, given the continuously fluctuating market conditions, it is advised for traders to remain cautious.</p>
<p>The post <a href="https://en.coin-turk.com/experts-predict-bitcoin-recovery-following-feds-impact-on-prices/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Experts Predict Bitcoin Recovery Following Fed’s Impact on Prices</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Experts Predict Bitcoin Recovery Following Fed’s Impact on Prices

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