Federal Reserve Rate Cut Expectations Drive Cryptocurrency Market Up
According to PANews, after Fed Chairman Powell made dovish remarks, speculation about a rate cut in September emerged, leading to an increase in the cryptocurrency market on Saturday, with market sentiment returning to 'greed'.
St. Louis Fed President Bullard stated that more time is needed to decide whether to support a rate cut. However, some market participants expect that if Powell hints at a rate cut, the cryptocurrency market could rise further.