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🟠CRYPTO MARKET DIPS AMID RATE CUT EXPECTATIONS

🟠CRYPTO MARKET DIPS AMID RATE CUT EXPECTATIONS

Day: 08 | Time: 10:07:16 The CD20, an index of major cryptocurrencies, is down 7%, while Bitcoin is experiencing a 5% decline due to expectations of a rate cut by the Fed in September. Other cryptocurrencies like Ether, Solana, and XRP are also losing value. Data shows that $175 million worth of long positions have been liquidated in the past 24 hours. Uncertainty over interest rates is likely affecting the market. US employment data has suggested a rate cut by the Fed in September. Some analysts even predict eight rate cuts by 2025. However, expectations of accommodative monetary policy by the Fed have not benefited Asian stocks due to EU tariffs on Chinese electric cars and the risk of a paralyzed European Parliament.

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