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Analysis: Bitcoin Maintains Fluctuation in the Range of $10.8-11.2K, Bulls Anticipate Rate Cut and Q4 Rebound
Summary: According to reports, due to the shift towards defensive options ahead of the US inflation data release, Bitcoin has been trading in the range of $108,000-112,000 for the past two weeks. Analysts suggest that a rate cut in September could amplify the historically bullish returns in the fourth quarter. Sean Dawson, Head of Research at ...
According to reports, due to the shift towards defensive options ahead of the US inflation data release, Bitcoin has been trading in the range of $108,000-112,000 for the past two weeks. Analysts suggest that a rate cut in September could amplify the historically bullish returns in the fourth quarter. Sean Dawson, Head of Research at Derive, stated that last week's weak US job data strengthened rate cut expectations and influenced option pricing. The CMEFed Watch tool indicates a 100% likelihood of a rate cut at this month's Fed meeting. Prediction markets are also signaling a rate cut. Polymarket currently predicts a 16% chance of a 50 basis point rate cut in September, up from around 10% last week, with the likelihood of no rate cut close to 3.5%. (The Block)
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Link: Analysis: Bitcoin Maintains Fluctuation in the Range of $10.8-11.2K, Bulls Anticipate Rate Cut and Q4 Rebound [Copy]
