Coinbase’s Weekly Market Report suggests the U.S. economy is slowing, citing indicators like a 4.1% unemployment rate in June and an inverted Treasury yield curve since mid-2022.
Analysts David Duong and David Han believe the economy peaked in Q2 2024 and expect the Federal Reserve to cut interest rates on September 18. However, they warn that recession fears might deter retail investors.
The report also notes potential fiscal expansion from the November U.S. elections, which could boost Bitcoin interest, and Ethereum may outperform due to spot ETF inflows.
Increased volatility is expected over the next two months before improvement in late September.
In China, June’s 0.2% CPI rise indicates weak domestic demand. The third plenum of the 20th CCP Central Committee may discuss economic stimulus, likely focused on strategic sectors rather than private enterprises and global investors.
Image Credit: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
