Bernstein expect the bitcoin rate to rise to $150,000 by the beginning of 2025

The US Fed kept its key rate in the range of 5.25–5.5% per annum. According to the regulator, inflation in the country remains at a high level, while unemployment, on the contrary, shows low rates, and economic activity continues to grow rapidly.

“The US banking system is healthy and resilient. Tighter financial and credit conditions for households and businesses are likely to put downward pressure on economic activity, hiring and inflation. The extent of this impact remains uncertain,” the Fed said in a press release.

The digital asset market practically did not react to the regulator’s actions. According to CoinGecko, the rates of the largest cryptocurrencies by capitalization did not show significant dynamics.

Meanwhile, Galaxy Digital believes that the price of BTC may begin to rise sharply as soon as bitcoin overcomes the $36,000 level. Such conclusions were made based on the mood of options market participants.

Analysts noted that as the price of the first crypto coin increased, so did the demand for options. According to Galaxy Digital and Amberdata, market makers managed to make a profit against the backdrop of the current trend.

Galaxy Digital head of research Alex Thorne believes that if Bitcoin rises to $35,750-$36,000, options dealers will be forced to purchase a significant number of spot Bitcoins.

“And this could lead to an explosion in the price of Bitcoin,” the top manager added.

Experts from Bernstein allowed the BTC rate to rise to $150,000 by the beginning of 2025. Company analyst Gautam Chugani believes that the SEC will approve the launch of a Bitcoin ETF by the first quarter of 2024.

“You may not like bitcoin as much as we do. But if you look dispassionately, you can see how it changes the price of cryptocurrencies,” the expert said.

He also noted that regulatory approval for the launch of funds for the main cryptocurrency “seems inevitable.”