The cryptocurrency market is showing signs of a potential recovery, according to Coinbase Institutional, driven by improved liquidity and a strong possibility of a Federal Reserve rate cut.
Reasons For Optimism
The potential rebound is attributed to improving liquidity conditions and a significant increase in the likelihood of a Federal Reserve rate cut, which was at 86.2%, according to the CME FedWatch tool, as of Sunday.
Bitcoin (CRYPTO: BTC) was down 0.5% over the last 24 hours, hovering around $89,200 at the time of writing. Ethereum (CRYPTO: ETH) was down 0.03%, hovering around $3,030.
In a post on social media platform X, Coinbase Institutional highlights several factors contributing to this optimistic outlook.
Liquidity in the market is showing signs of recovery, which could provide the necessary support for a market upturn, the firm said. Additionally, the anticipated “AI bubble” …Full story available on Benzinga.com
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