Bitcoin Sees Modest Gains Amid Tech-Led Market Rebound, Analysts Warn Rally May Be Fragile
Main Idea
A tech-led market rebound boosted U.S. stocks and cryptocurrencies, driven by rate cut speculation and revised jobs data, but analysts warn the rally may be fragile due to macroeconomic risks.
Key Points
1. The Nasdaq and Russell 2000 surged 1.84% and 2.35%, while Bitcoin rose 0.74% amid the tech-led rally.
2. The probability of a September Fed rate cut surged above 90%, fueled by revised jobs data showing a 258,000 reduction in employment figures.
3. Analysts caution that the rally appears machine-driven and lacks fundamental support, with signs of froth and elevated risk-taking.
4. Macroeconomic uncertainty remains a key risk, with crypto markets vulnerable to a correction if U.S. equities decline.
5. Options market activity shows increased protective positioning in Bitcoin, reflecting investor caution.
Description
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