Possibly behind the equity rally in July and the first half of August was the hope that inflation has peaked and the Federal Reserve would resort to rate cuts next year. That dovish Fed narrative, however, fizzled out in the second half last month, bringing renewed weakness in stocks and cryptocurrencies, with ether tumbling more than 20% from a peak hit on Aug. 14.
Bitcoin (BTC) Holds Near $63K, Consolidating Week’s Recovery
Bitcoin traded either side of $63,000 during the European morning on Friday having retreated from its rebound to $64,400 late...