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A Brief Commentary on the Bitcoin and Ethereum Markets and Macroeconomic Impact
Bitcoin short and rebound
The bearish momentum of Bitcoin is gradually weakening, a rebound may occur in the short term, but the overall adjustment is not yet in place.
Ethereum advantages
Currently, funds and sentiment are focused on ETH. If there's a rebound, the ETH increase is expected to surpass Bitcoin.
Federal Reserve factors
The probability of the Federal Reserve cutting interest rates by 25 basis points in September has decreased from over 70% to over 50%, due to positive economic data and officials' statements not supporting a rate cut, compounded by policy differences, which have impacted the market. This expectation will continue to influence the market in the next week or two, making it one of the main reasons for the ongoing market adjustment.