Crypto Rises Alongside Stocks as Fed Pivot Bets Build
U.S. stocks rebounded Monday, lifting risk assets broadly, including crypto. But analysts remain cautious, citing persistent macroeconomic uncertainty and growing signs of excess across markets.
The tech-led rally saw the Nasdaq and Russel 2000 indexes jump 1.84% and 2.35%, respectively. Bitcoin, on the other hand, saw a modest uptick of 0.74%, according to CoinGecko data.
Market gains tracked a sharp shift in sentiment following a 258,000 downward revision to May and June jobs data, fueling expectations of a Federal Reserve pivot.
The probability of a 25 basis point rate cut in September has surged to over 90%, up from 63.1% a week earlier, according to the CME’s FedWatch Tool.
“The bounce today looks fairly…
