Fed rate cut odds in September surged to 70% amid steady July inflation. Despite being a potential positive for BTC, its price was unmoved...
U.S inflation continues to be steady, reinforcing market expectations of a likely Fed rate cut in September. This rate cut is expected to help boostThe PCE Price Index hiked by 0.2% last month, similar to June’s reading, and matched analysts’ estimates. The data measures price changes for goods and services, excluding food and energy, and is the Fed’s favorite variable for tracking inflation and making monetary policy decisions.
“With the recent macro news proving to have little effect on the crypto market, we believe BTC is likely to remain range-bound within 58k-65k in the short term as the market awaits positive catalysts to break out of this range.”Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.
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