Matrixport: The Fed’s rate cuts, the U.S. presidential election and other factors may stimulate an explosive rebound in the crypto market

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Odaily2024/07/03 09:13

By:Odaily

Odaily News Matrixport published a chart analysis on X showing that as the total market value fell from $2.7 trillion to $2.3 trillion, the daily trading volume of cryptocurrencies also fell from $180 billion to $50 billion. There is a saying in traditional finance that dont short a depressed market because a little momentum can push prices up. This may also apply to the crypto market, because during the summer downturn, the market may see an explosive rebound given multiple possible stimulus factors (such as the Feds rate cuts, the US presidential election, etc.).

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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