Rising Expectations of Rate Cuts Drive Crypto Market Upward

According to the Chicago Mercantile Exchange, the probability of the FED cutting interest rates by 25 basis points in July is approximately 25%, increasing to nearly 49% in September.

Recent US employment data also shows a slowing labor market, with initial jobless claims surged to 231,000. This hints at a weakening job market, possibly prompting the #Federal Reserve to consider earlier rate cuts, favoring cryptocurrencies like $BTC

Additionally, significant inflows of $11.54 million into #BitcoinETF💰💰💰 , like #GRAYSCALE and #Bitwise , along with Trump’s positive remarks on crypto, have further fueled the upward movement.

However, there are still significant challenges due to the ongoing regulatory pressures and market uncertainties.