Although the market fell so much last week, the macro situation is still good recently. The US stock market has been setting new highs in the past few days. At present, CME's expectations for interest rate cuts have increased again. Now the September interest rate cut may be close to 80%, which is nearly 20 percentage points higher than the low point last week.
If the CPI and PPI on Thursday and Friday this week can fall as expected, then the possibility of a September interest rate cut is likely to go straight to 90%. In this way, there will be a two-month window for speculation on interest rate cuts. Both the US stock market and the cryptocurrency circle may usher in a lot of good news again.
In addition, various institutions including Bloomberg now believe that the Ethereum spot ETF will be approved this week, and all ETF applicants have completed the final submission of S-1.
Now each company has started a price war on fees. This situation is very similar to the situation before the BTCETF was passed. Ethereum has also successfully stood at $3,000 against the background of the market rebound, and the ETH/BTC exchange rate has also rebounded to 0.535.
