Bitcoin is drifting toward the USD 115,000 level, with substantial outflows from ETFs, including USD 196.6 million from Ethereum and USD 121.7 million from Bitcoin. This indicates that institutional investors are temporarily reducing their exposure to risky assets, coinciding with hesitation around US monetary policy. The market anticipates a 25-basis-point interest rate cut, though expectations for cuts have softened. Comments from Jerome Powell at the Jackson Hole symposium may add to market caution. Despite this dip, firms like MicroStrategy continue purchasing Bitcoin, reflecting persistent corporate interest.
Bitcoin is nearing the USD 115,000 level while experiencing significant ETF outflows, illustrated by USD 196.6 million out from Ethereum ETFs and USD 121.7 million from Bitcoin ETFs.
Investor sentiment remains cautious with only an 83% chance of a 25-basis-point interest rate cut, leading to worries about US monetary policy changes.
Jerome Powell's upcoming comments at the Jackson Hole symposium could substantially influence market sentiment, especially if delivered with caution.
Major firms are still acquiring cryptocurrencies, with MicroStrategy buying 430 BTC for USD 51.4 million, indicating ongoing interest despite overall cautious investment trends.
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