Core Summary
Goldman Sachs’s latest research note indicates that recent soft economic data makes a September Federal Reserve rate hike “very unlikely.” This assessment is positive for bitcoin and other risk assets, as a looser rate environment typically encourages capital flows into crypto markets and tech stocks.
Markets will closely watch this week’s release of the Fed’s Federal Open Market Committee (FOMC) minutes for further clues on monetary policy direction. Analysis suggests that if rate hike expectations continue to cool, bitcoin could find support near $63,500 and seek a breakout.
Market Context
Bitcoin is currently consolidating near $63,500, but on-chain data shows US spot ETFs took in over 14,000 BTC in five days, with Q3 flows turning positive. Analysts believe that if the Fed signals a dovish stance, the crypto market could see a new round of gains.
Editor: GoodInfo Global News Team