The early August bear market may have created a "tactical bottom for Bitcoin" supported by expectations of monetary easing in the US. According to ETC Group analysis, sentiment around crypto assets has fallen to its lowest since the FTX crash in November 2022.

The Fed may start cutting rates, which will create more favorable conditions for BTC. ETC Group CEO Andre Dragosch believes that this could be the beginning of a new bullish trend. 📉

Source: Bloomberg/ETC Group