Related Reading: Silk Road Bitcoin Are Almost Certainly’ Sold By US Gov, Claims Lawyer Looking ahead, the report notes that the stage is set for market dynamics to be tested at the upcoming Jackson Hole Economic Symposium, a pivotal event that could sway sentiments and shape the trajectory of crypto markets. While short-term fluctuations and market slowdowns may dampen immediate enthusiasm, Coinbase highlights the underlying currents of institutional interest and the evolving landscape of ETF inflows that paint a promising picture for crypto prices for the rest of the year.
Crypto Awaits Fed’s Move According to a recent Coinbase report, the slightly softer-than-expected July CPI print of 2.9% year-over-year – the lowest level in three years – has “calmed market concerns and reinforced expectations of impending Fed rate cuts at the September 17-18 Federal Open Market Committee (FOMC).
Nonetheless, Coinbase analysts believe the continued ETF inflows during Bitcoin’s underperformance may be a “promising indicator of sustained interest in crypto from the new pools of capital that the ETFs give access to.” They also expect the proportion of investment advisor holdings to increase as more brokerage houses complete their due diligence on these funds.
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