Crypto

Bitcoin Pulls Back Before Probable Fed Rate Cut

Bitcoin sank below $59,000 after spending much of the weekend above the $60,000 mark. BTC traded around $58,550 in the European morning, marking a 2.4% drop over 24 hours at the start of a week where traders worldwide anticipate the Federal Reserve’s first interest-rate cut in over four years.

The broader digital asset market, as measured by the CoinDesk 20 Index (CD20), is also down by 3.6%. Crypto markets were initially boosted by favorable U.S. economic data released on Friday, leading to a short-term rally. Bitcoin ETFs saw inflows of over $263 million, the highest since July 22, with ether equivalents adding approximately $1.5 million.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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