Bitcoin Rises Above $80,000 Despite Changing Rate Cut Forecasts

The Federal Reserve's monetary policy expectations are shifting, and major brokerages are reevaluating their forecasts for rate cuts. However, this change in expectations has not had a significant impact on Bitcoin's price, which continues to gain ground.

Some analysts attribute Bitcoin's rally to its increasing use as a hedge against inflation. This is supported by the continued inflows into spot ETFs even as inflation fears mount.

Other analysts remain skeptical, attributing the rally more to strength in equities than to any structural shift in crypto demand.