Bitcoin and Ethereum Price Outlook as Citigroup Delays Fed Rate Cut Timeline to September
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Bitcoin and Ethereum prices face pressure due to Citigroup's delayed Fed rate cut timeline from June to September. The delay is caused by strong US job numbers and inflation concerns, leading to a risk-off mood in the market.
Citigroup has delayed its predicted Federal Reserve rate cut timeline from June to September. This change is due to strong US employment figures and inflation concerns. Bitcoin and Ethereum prices are under pressure as a result. The cryptos are experiencing a price correction, with BTC consolidating at $68k and ETH trading above $2k. Despite this, spot ETFs for Bitcoin and Ethereum saw significant inflows, with $471 million and $120 million invested, respectively. The market is watching key support levels, with BTC's long-term prediction depending on its ability to maintain crucial support zones.
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