JPMorgan strategists suggest Bitcoin's recent rally above $60,000 and stock market highs may delay the Federal Reserve's plans for interest rate cuts. The market had anticipated three rate cuts in 2024, but the surge in speculative assets like Bitcoin could lead to a more cautious approach by the Fed. This speculation is based on concerns that premature rate cuts could further inflate asset prices or trigger inflation. The Fed, under Chair Jerome Powell, has indicated a need for more data before considering rate adjustments, despite recent optimism in the markets.