BIT sees BTC and gold rising together on weaker dollar, rate-cut hopes

Dollar weakness and expectations for rate cuts could support gains in gold and Bitcoin, according to BIT, formerly Matrixport. BIT said from a technical perspective, gold may be entering a phase of forming a bottom. The firm added that while the market expects the Federal Reserve to raise rates around twice this year, there may be no rate hikes at all. If the U.S. dollar turns weaker, gold and BTC could rise alongside expectations for rate cuts, BIT said.