Matrixport: New fiat money flows into the cryptocurrency market, possibly in anticipation of the Federal Reserve's expected rate cut in September
Bitget2024/08/12 07:33
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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.
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