The direction of the Federal Reserve's policy continues to affect the market

Bank of America points out that if asset allocation is adjusted in the next two years, it could absorb up to $2 trillion in short-term government bonds

At the same time, the probability of a rate cut in September has risen to 84.6%. However, a Bank of America survey shows that only 9% of fund managers allocate to crypto assets

On the other hand, billions of dollars worth of Ethereum are still waiting to be unlocked, which may bring potential selling pressure on ETH. The market is oscillating at a high level, and in the past 24 hours, liquidations have reached $224 million, with both long and short positions under pressure.