1257 ET - The rebound seen in cryptocurrencies appears to have hit near-term resistance levels, with further upward momentum depending on next moves by the Fed. "If bitcoin ETF inflows and stablecoin supply continue rising while markets maintain a greater-than-50-percent probability of a September hike, [we] believe it would provide stronger evidence that underlying crypto demand can withstand tighter monetary conditions," says Bitfinex in a note. "If those flows begin to weaken as rate expectations rise, the macro backdrop could increasingly cap bitcoin's upside." Bitcoin is flat at $78,620, while other cryptocurrencies are mixed.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.