Crypto Market’s Fate Hangs On The Last Days Of July
Bitcoin is currently priced around $119,000, with the global crypto market capitalization nearing $4 trillion. Key events in late July, including a Federal Open Market Committee (FOMC) meeting and legal deliberations on tariffs, are expected to significantly influence market dynamics. Predictions indicate a 40% chance of two interest rate cuts by December, with Goldman Sachs suggesting the first cut may occur in September. Treasury Secretary Scott Bessent advocates for earlier cuts if inflation linked to tariffs proves temporary. A new executive order extending tariffs will take effect on August 1 unless renegotiated. The Court of Appeals will hear a case on July 31 that could impact presidential tariff powers. Current market trends show that real yields are inversely related to rate-cut expectations, affecting Bitcoin's performance. The total crypto market cap is reported at $3.81 trillion.
