The future trend of the crypto market may depend on interest rate changes📢
On the cryptocurrency side, an earlier small plunge in prices coincided with a sharp drop in the CME BTC futures contract, showing that this position liquidation was not limited to native cryptocurrency users, but also included mainstream investment groups; the majority of long positions were in Building on a series of positive news, including the SEC’s preliminary ruling against Ripple, the launch of Coinbase’s L2 “Base”, the Paypal stablecoin, and of course anticipation of the approval of a spot BTC ETF, long positions are now higher than they have been in months. In a cleaner scenario, we would expect prices to form a bottom at current levels, but if real interest rates rise again before the fourth quarter, there is also a chance that prices will move lower again heading into September.
