Latest Crypto Market Moves
Bitcoin sank below $59,000 having spent much of the weekend above the $60,000 mark. The broader digital asset market as measured by the CoinDesk 20 Index (CD20) is 3.6% lower. Crypto markets were buoyed by favorable U.S. economic data on Friday, which sparked a short-term rally.
Traders Anticipate Fed Rate Cut
The Federal Reserve is widely expected to announce an interest-rate cut on Sept. 18, kicking off the so-called easing cycle. Traders, however, are split on the size of the cut, setting the stage for a potential volatility explosion in financial markets after the decision.
Ethereum Faces Competition
Ethereum as a protocol has had some serious competition in the last year with Solana looking to be the destination of choice to launch memecoins and new chains like Coinbase's Base and Telegram-affiliated TON capturing more mindshare, which has probably hit demand for the Ethereum blockchain's native token.
The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.
Comments