Analyst: The expectations of monetary easing have been digested, and interest rate cuts cannot drive Bitcoin rebounds above $120,000.

On September 8, BTC Markets crypto analyst Rachael Lucas stated: "The weak U.S. employment report has indeed triggered expectations that the Fed will take a more dovish stance, which typically supports risk assets like Bitcoin. However, the market has already digested a certain degree of policy easing. Meanwhile, we see institutional investors taking profits, while ETF fund flows remain relatively stable. The Bitcoin resistance level is at $113,400, with further resistance levels at $115,400 and $117,100. Breaking through these resistance levels indicates that the market has absorbed the recent dumping pressure and is ready to retest the highs." Kronos Research CIO Vincent Liu also stated that even if the Fed decides to drop interest rates, Bitcoin prices may still remain subdued. "Rate cuts may reflect economic weakness, while persistently high inflation and cautious risk sentiment limit risk appetite. Without stronger ETF inflows or a genuine liquidity expansion, the $120,000 mark will remain a difficult barrier to overcome." (The Block)