Matrixport: New fiat money flows into the crypto market, possibly preparing for the expected rate cut by the Federal Reserve in September
On August 12th, According to the latest report from Matrixport, the price of Bitcoin rebounded after a sharp drop last Monday. Although the funds of Bitcoin spot ETF are still flowing out, some people took the opportunity to buy at a low price, as evidenced by the rebound in the 30-day coinage ratio (black). This indicates that new fiat money has flowed into the cryptocurrency market, and investors are taking advantage of the low prices, or positioning themselves ahead of the expected interest rate cut by the US 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.
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