PANews August 14 news, according to Cointelegraph, ETH recently rose above $4,700, mainly due to market expectations that the U.S. Federal Reserve will cut interest rates in September. Cryptocurrency analysts warn that if the rate cut does not materialize, the consequences could be dire. According to data from the CME Watch Tool, market participants expect a 95.8% chance of a rate cut by the Fed in September.
Swyftx Chief Analyst Pav Hundal stated: "The main issue right now is that the entire market trend is based on the assumption that the Fed will cut interest rates next month." Capriole Investments founder Charles Edwards is very optimistic about Ethereum and expects its price to rise further, but he also believes that unexpected actions by the Fed could have an impact, which could "lead to a liquidity panic, causing capital to freeze and the flow of funds to stop." Although Edwards does not "rule out any possibilities," he stated that as long as institutional demand exceeds the supply of Bitcoin and ETH, he remains bullish.
