Binance Research: Global tightening slowdown may support Bitcoin

Binance Research said global monetary tightening is decelerating, with 8 of the 10 central banks it tracks having raised rates over the past six months but the pace of hikes easing since a July peak, a shift it says could support bitcoin ahead of actual rate cuts. The firm argues bitcoin tracks the direction of global policy rather than its level, noting that in the last cycle BTC bottomed in November 2022 and six-month returns turned positive by February 2023, before the central banks in its index began cutting. Whether the tightening slowdown persists into early 2027 is the key test for whether the crypto macro backdrop improves. Watch upcoming central bank decisions and the trajectory of the firm's policy index for confirmation.