"Bitcoin traded below USD 87,000 on Wednesday, and remained under pressure after the multi-week selloff. However, the market is showing some signs of stabilization. The cryptocurrency could find support in the strengthening expectations for a December Fed rate cut. Market-implied probabilities were near 85%, up sharply compared to one week ago. A shift toward looser monetary policy could support risk appetite and drive investors back toward digital assets, giving Bitcoin room to stabilize if the macro backdrop continues to soften."
"At the same time, spot ETFs saw a break in the outflows they have suffered lately, recording USD 128 million of inflows yesterday. While flows into bitcoin ETFs remain unstable, the reduced pressure could help the market stabilize. A reversal into consistent inflows could drive a rebound in bitcoin prices. Liquidation data also point to a more balanced market. In the past 24 hours, long and short liquidations remained at broadly similar levels, suggesting fewer forced unwinding."
Bitcoin traded below USD 87,000 and remained under pressure following a multi-week selloff. Market-implied probabilities for a December Fed rate cut strengthened to near 85%, sharply higher than a week earlier. Expectations of looser monetary policy could boost risk appetite and attract investors back to digital assets, allowing Bitcoin to stabilize if the macro backdrop softens. Spot ETFs recorded USD 128 million of inflows, offering a break from recent outflows and reducing selling pressure. Long and short liquidations over the past 24 hours were broadly similar, suggesting fewer forced unwindings and a more balanced market.
Read at London Business News | Londonlovesbusiness.com
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