Opinion: The White House's cryptocurrency policy framework may drive BTC back to $120,000

ChainCatcher news, according to The Block, 21 Shares research strategist Matt Mena stated that the market will face dual factors this week: the market generally expects the Federal Reserve to keep interest rates unchanged, while potential key Personal Consumption Expenditures (PCE) data may determine the direction of interest rate cuts later this year. A more moderate PCE policy and a substantive White House cryptocurrency policy framework are expected to bring Bitcoin back to the $120,000 level and "drive price discovery."

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