Bitcoin (BTC) opened the week with new records, surpassing $120,000 for the first time in its history. Breaking records in succession, BTC recently surpassed $122,000 to reach a new ATH.
While Bitcoin is racing from record to record, altcoins are still trading below their previous highs. At this point, investors are waiting for a major altcoin rally, with one analyst pointing to August or September for the altcoin season.
As interest in the altcoin season increases in the market, LD Capital founder Jack Lee predicted that the altcoin season could come with the expected interest rate cut in September.
Sharing the current forecast from his X account, Lee said that he believes the altcoin season will not start until the FED cuts interest rates, meaning that an interest rate cut is necessary for the altcoin season to begin.
“Everyone is interested in the altcoin season.
But I think the liquidity supply won't kick in until the interest rate cut comes in August or September, so we should wait until then for the altcoin season.”
Meanwhile, according to CME FedWatch, while interest rates are expected to remain unchanged at 93.3% in July, the first rate cut is priced in for September. Accordingly, a 58.9% rate cut is priced in for September.
*This is not investment advice.
