Bitcoin Bounces From 21-Month Low Above $60K, Ethereum Returns to $1,600
Bitcoin rebounded from a 21-month low near $57,700 to above $60,000, while Ethereum climbed back to $1,600. The move comes amid Fed comments and mixed macro signals including rising Treasury yields and a stronger dollar.
Bitcoin rebounded from a 21-month low around $57,700, pushing back above the $60,000 level. Ethereum also recovered, returning to the $1,600 mark.
The uptick comes ahead of the Federal Reserve's late-July meeting. Fed Governor Kevin Warsh declined to hint at the rate decision, noting a weak economic backdrop. Markets currently price a 70.6% probability of a rate hold, with 29.4% expecting a hike.
Other headwinds persist: the 5-year US Treasury yield has risen to 4.22%, gold has dropped 12% over two months, and the US Dollar Index is hovering near its yearly high.
Source: ForkLog