Macro backdrop: dovish Fed and softer dollar support long-term crypto thesis

TradingEconomics and Yahoo Finance report gold near record highs and the dollar index hovering near multi-week lows after the Fed’s third 25 bp cut and new T-bill purchases. While today’s tape is risk-off for crypto, the combination of easier Fed policy and added dollar liquidity is seen as supportive for longer-term Bitcoin upside in on-chain valuation work from Bitcoin Magazine.