U.S. stocks continue to reel over coronavirus-related fears, and investors are increasingly betting the Federal Reserve will slash interest rates to stabilize the economy and markets.
But whether those investors turn to bitcoin (BTC) as a crisis hedge remains to be seen.
Such action by the Fed could, in theory, help bitcoin prices since lower rates would likely reduce the appeal of income-yielding assets such as U.S. Treasury bonds, according to analysts tracking the 11-year-old cryptocurrency. So far, the Fed has not said whether it would cut rates, with Chair Jerome Powell taking a "wait and watch" attitude.
