Bitcoin Price Takes Dip Below $108,000 as Rate Cut Expectations Weaken

Bitcoin’s price has fallen below the $108,000 mark recently, signaling a potential decline driven by diminished expectations for a Federal Reserve rate cut. Ahead of the May Fed meeting minutes release, market sentiment remains cautious. The CME FedWatch tool shows the market now anticipates the first rate cut might be delayed until September, with the number of expected cuts in 2025 reduced from four to two. Trader TheKingfisher points out that further price drops could lead to short covering activity. QCP Capital previously noted a lack of major catalysts driving price fluctuations, contributing to continued volatility decline.