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Traders now see a 94% chance of the Fed raising rates by 25 basis points later this month.
Observers call for spot-based bitcoin ETF as the bull market raises cost of pre-expiry rollover of positions for futures-based ETFs.
The forecast is consistent with bitcoin's tendency to chalk out sharp gains in the months after the mining reward halves. The fourth halving is due early next year.
Bitcoin prices have paused with support at $30,000
Even so, spot trading volumes are at historically low levels.
The decentralized cloud storage protocol has seen its market value double this week.
PLUS: The first half of 2023 has so far been very promising for the crypto majors.
PLUS: Dismissing the very real prevalence of Ponzi schemes in GameFi isn't a good look for Web 3.
The largest cryptocurrency by market cap tends to rally in the month of July, the report said.
The latest price moves in crypto markets in context for July 5, 2023.
- 07:06Analysis: Core PCE is expected to cool down, the Federal Reserve may cut interest rates by 25 basis points at the June meetingAmeriprise Financial's Chief Economist Russell Price predicts that the overall PCE will increase by 0.3% in December, and the core PCE will increase by 0.2%, which is consistent with general market estimates. Economists generally predict that the month-on-month growth rate of core PCE inflation (excluding volatile food and energy prices) will accelerate by 0.2%, and the year-on-year growth rate will remain at 2.8%. Russell Price believes that maintaining a pause is a very rational and reasonable view, predicting that the Federal Reserve will cut interest rates by 25 basis points at its June meeting.
- 07:01Apple CEO Cook: DeepSeek's large model is an innovation that improves efficiencyDuring the Apple earnings call, Cook was asked about his views on future iPhone models in terms of form innovation. Usually, he would refuse to reveal information about future products, but this time he gave an encouraging answer. Cook said: "I think there is still a lot to come, the innovation of the iPhone is far from over, and smartphones still have a lot of room for innovation. I am extremely optimistic about our product line." An analyst mentioned DeepSeek, a large model deeply explored by currently hot Chinese companies. Cook believes that DeepSeek's artificial intelligence model represents "innovation driving efficiency". "Overall," he said, "I think innovation driving efficiency is a good thing."
- 07:00The total market value of the AI agency sector tokens has fallen below 10 billion US dollarsAccording to CoinGecko data, the total market value of AI agency sector tokens is temporarily reported at 9.68 billion US dollars, with a 24-hour decline of 0.8%, and a 24-hour trading volume reaching 1.231 billion US dollars.