According to TechFlow, the U.S. economy may have peaked in the second quarter of 2024, according to the Coinbase Weekly Report. Analysts pointed out that if the economy falls into recession, retail investors may be reluctant to enter new stock or cryptocurrency markets. Despite expectations of interest rate cuts, the market may still perform poorly due to an economic slowdown.

Coinbase also mentioned that the November U.S. election could lead to more fiscal expansion regardless of which candidate wins, which would be a strong incentive to buy Bitcoin as an alternative to the traditional financial system. In addition, Ethereum could outperform as inflows into spot Ethereum exchange-traded funds continue.