Bitcoin's Recent Rally Could Extend Further — Market Talk

Bitcoin's recent rally could have further to go, TP ICAP's digital assets director Hina Joshi says. Financial institutions expect the Federal Reserve will resume interest-rate cuts later this year and this will benefit risky assets like bitcoin, she says. The market is pricing in nearly two rate cuts by year-end, LSEG data show. A rise in crypto treasuries and bitcoin-backed corporate strategies could also boost bitcoin, along with increased sovereign adoption, she says. Bitcoin falls 2.6% to $117,150, according to LSEG data. It reached a record high of $123,153 on Monday. (renae.dyer@wsj.com)