Crypto Market Conditions ‘Exceptionally Strong’ as Bitcoin, Ethereum, XRP Advance
Bitcoin hit record highs on Wednesday with the increasing odds of an easier monetary policy from the U.S. Federal Reserve.
The top crypto is up 3.6% in the past 24 hours and is trading near $123,500, following a record high of $124,128 earlier in the trading session, according to CoinGecko data.
“Liquidity is being shovelled into risk assets right now, and there is no obvious sign of any overheating, Pav Hundal, lead market analyst at Swyftx, told Decrypt. “Funding rates are well within normal ranges across all the major global exchanges.”
With the odds of a September rate cut soaring above 90%, a lower interest rate would encourage borrowing and stimulate spending. The stock market and crypto tend to rise in such…
