Crypto Today!
The cryptocurrency market is currently navigating choppy waters. Bitcoin is trading near $111,800, albeit with a 2–3% pullback rooted in both technical and macro shocks. Over the past 24 hours, trading volumes have remained elevated ranging from $53 billion to $85 billion, depending on the data source demonstrating market liquidity despite volatility.
The downturn follows a sudden flash crash that liquidated hundreds of millions in crypto, likely triggered by heavy sell orders from a whale. In tandem, waning optimism for imminent Fed rate cuts and mounting political uncertainty from changes within the Federal Reserve to macro economic tensions have further dampened risk appetite.
I am Looking ahead to the close of August, Bitcoin is likely to hover in a volatile range unless fresh bullish catalysts emerge. The upcoming Fed meeting in September looms large. Present sentiment places an 80% chance of rate cuts, bolstered by easing inflation readings and structural economic weaknesses from housing market stress to tariff pressures. If delivered, a cut could act as a near term tailwind for crypto markets.
Yet historical precedent shows that while rate cuts often coincide with rallies, they don't guarantee immediate market response. Mixed past performance underscores the complexity of drivers at play.
As for the SEC, its focus remains on regulatory compliance and enforcement rather than monetary policy. With no clear link to Fed rate decisions, regulatory developments unless dramatic are unlikely to shift September’s macro trajectory.
I am expecting continued fluctuation, with crypto’s path in September hinging on Fed signals and broader sentiment shifts. A dovish Fed would likely reignite enthusiasm; a cautious or delayed move could further prolong the downturn.
Although Bitcoin currently showing some resistance at $111'805 now at 8:45 PM (PST) after shocking fall at $109,450 midday. The correction waving up the alt coins as they are in green zone. Meme coins have trouble yet as $TRUMP , $DOGE and $Gold suffering throughout the day. Alpha tokens getting stronger attention of investors today as the volume hits ATH in trade.
That's all for today.
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Note: The article also published on my read.cash wall.
Cheers
Amjad Ali
( Author of the article on move , travelling to Lahore. Photo with my best half at railway station)
