TechFlow, Dec 8 — Chris Beauchamp, IG senior market analyst, said that as the Federal Reserve is expected to cut interest rates this week, Bitcoin and other cryptocurrencies may see a rebound, as looser monetary policy could stimulate capital inflows into the crypto market. In addition, recent pullbacks have created more attractive entry points. The weekend declines in Bitcoin and Ethereum attracted buyers, suggesting a short-term bottom has formed. Before Monday's US market open, Bitcoin rose 1.5% to $91,541, while Ethereum gained 1.8% to $3,144.
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