Network economist Timothy Peterson warns that if the US Federal Reserve holds off on rate cuts in 2025, it may cause a broader market downturn, potentially dragging Bitcoin back toward $70,000.
“What it needs is a trigger. I think that trigger may be as simple as the Fed not cutting rates at all this year,” Peterson said in a March 8 X post. Peterson’s comment comes just a day after Federal Reserve chair Jerome Powell reiterated that he’s in no hurry to adjust interest rates.
Fed rate cut delay may spark bear market
“We do not need to be in a hurry and are well-positioned to wait for greater clarity,” Powell said in a speech in New York on March 7.
Source: Timothy Peterson
Peterson, who is the author of the paper “Metcalfe’s Law as a Model for Bitcoin’s Value,” estimated how low the Nasdaq could fall to predict Bitcoin’s (BTC) potential bottom in “the next bear market.”
Using Peterson’s Nasdaq lowest price forward…
