After a successful Bitcoin conference, the crypto market is on edge as the US Federal Reserve announces its interest rate decision on July 31. Bitcoin is trading nearly 15% up this month, approaching $70,000.
Investors are watching for potential rate cuts, with an 85.8% probability of a 25 bps cut in September. Interestingly, Bitcoin prices tend to be flat in August, according to 10x Research.
Analysts predict a breakout above $70,000 but note that macro factors like lower inflation and Fed rate cuts are needed for a rally. The US CPI report is due on August 20.
Meanwhile, Solana’s SOL price has surged to $192, with expectations of surpassing $200 soon. Precious metals like Gold and Silver might also rally in August.
Stay tuned for more updates!
