Opinion: The White House Crypto Policy Framework Could Propel BTC Back to $120,000

According to ChainCatcher, as reported by The Block, 21 Shares research strategist Matt Mena stated that the market will face a dual set of factors this week: the Federal Reserve is widely expected to keep interest rates unchanged, while the upcoming key Personal Consumption Expenditures (PCE) data could determine the direction of rate cuts later this year. A more dovish PCE policy and a substantial White House cryptocurrency policy framework could see Bitcoin return to the $120,000 level and “drive price discovery.”

If the Federal Reserve keeps rates unchanged today, traders will begin to focus on the September meeting, when a rate cut could occur, provided that inflation cools and labor market data remains stable.