Analyst: Recent pullbacks create "entry points"; Fed rate cuts will stimulate a rebound in cryptocurrencies

Hedge fund IG analyst Chris Beauchamp stated that as the Federal Reserve is expected to cut interest rates this week, Bitcoin and other cryptocurrencies may see a rebound, as loose monetary policy could stimulate inflows into the crypto market.

Additionally, the recent pullback has created more attractive entry points, with the weekend decline in Bitcoin and Ethereum attracting buyers, indicating that a short-term bottom has emerged. Before the opening of the U.S. stock market on Monday, Bitcoin rose 1.5% to $91,541, while Ethereum increased 1.8% to $3,144.