‘Limited upside’ for Bitcoin? Here’s what Coinbase is predicting! – BitRss

• Bitcoin could extend its price range in the short-term 
• Coinbase analysts cited slow Fed rate cut path and increasing BTC ($94,613.24) sell pressure

Coinbase analysts have cautioned that Bitcoin [BTC] could see market choppiness in the medium term.

In their weekly commentary, analysts David Duong and David Han cited the slow Fed rate cut path and increasing BTC supply in the market. 

“The broader macroeconomic backdrop remains a mixed bag. The reduced likelihood of Fed rate cuts on the back of stronger employment data and inflation risks may temper risk asset performance in the short to medium term.” 

Recent U.S economic data revealed sticky inflation and strong labor markets, further diminishing expectations of more Fed rate cuts.