Matrixport: New fiat money flows into the cryptocurrency market, possibly in anticipation of the Federal Reserve's expected rate cut in September
Matrixport's latest report points out that after last Monday's plunge, Bitcoin prices have rebounded. Although funds are still flowing out of the Bitcoin spot ETF, some people took the opportunity to buy at a low price, which can be seen from the recovery of the 30-day coinage ratio (black). This indicates that new fiat money has flowed into the crypto market and investors are taking advantage of low prices or preparing in advance for an expected interest rate cut by the Federal Reserve in September.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analysis: The market is betting on $80,000 as strong support and $100,000 as strong resistance

Santiment: "Buy the dip" strategy is fading as Ethereum approaches the strong resistance zone at $3,200
Arthur Hayes: Maybe Monad can unlock all tokens and retain users, challenging Ethereum and Solana
Hyperliquid confirms that 1.75 million HYPE tokens have been unlocked for developers and core contributors.