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Here is a summary of the latest Bitcoin news and market sentiment:
1. The Fed Interest Rate: The probability of a Federal Reserve rate hike in September has surged past 50%, putting heavy pressure on risk assets like Bitcoin.
2. Geopolitical Sentiment: Tensions in the Middle East, including statements related to Iran, are also affecting Bitcoin’s short-term price movements.
3. Investor Activity: Losses from long-term holders are recorded as quite high, but on-chain indicators such as those from CryptoQuant suggest a bottoming process is underway.
#GUSDYieldRisesto3.8%