Matrixport: New fiat money flows into the crypto market, possibly preparing for the expected rate cut by the Federal Reserve in September
According to a recent report by Matrixport, after a sharp drop last Monday, the price of Bitcoin rebounded. Although funds for Bitcoin spot ETFs are still flowing out, some people took advantage of the low prices to buy in, as evidenced by the rise in the 30-day coin casting ratio (black). This indicates that new fiat funds are flowing into the crypto market, and investors are taking advantage of the low prices or positioning themselves ahead of the expected interest rate cut by the US Federal Reserve in September.
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