đ Crypto Comeback! đ
Bitcoin (BTC) surged to $64,000 and Ethereum (ETH) hit $2,765 on Aug. 24 after Fed Chair Jerome Powell hinted at potential rate cuts in September. The total market cap of all coins rose by nearly 5% to over $2.26 trillion!
đ Risk of Short-Lived Gains?
- "Buy the rumor, sell the news" could apply here. Rate cuts are already priced in, so stocks and crypto might retreat post-announcement.
- Historical trends show markets often dip after the Fed starts cutting rates.
đ Market Trends
- Bitcoin has been forming lower highs since March. A bullish breakout needs BTC to clear $73,800.
- Money market funds are still seeing inflows, holding over $6.2 trillion.
What are your thoughts on this trend? Share in the comments! đŹ
