Crypto markets traded sideways, with Bitcoin holding near 115,000 USD and Ether above 4,200 USD. Recent profit-taking led to declines, with Bitcoin down 2.4%, Ether down 4.4%, and both SOL and XRP down nearly 5%.
Traders are assessing the potential impact of Fed rate cuts expected in September, with many anticipating that U.S. Equities could guide crypto movements. Nick Ruck from LVRG Research highlights that Bitcoin’s correlation with gold could return with monetary easing.
Market participants are attentive to upcoming retail earnings that could reflect tariffs and inflation effects. Jeff Mei from BTSE mentions cryptocurrencies might align with stock performance as investors wait for the market opening.
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