Perky, With Bearish Overtones: Crypto Daybook Americas
Crypto markets rose Monday on expected Fed rate cuts, but caution is advised due to potential hawkish guidance and bearish technical indicators.Summary
The crypto market experienced a perky start on Monday, with Bitcoin approaching $92,000 and major indexes rising on expectations of a Federal Reserve rate cut. However, the article advises caution, highlighting three bearish signals: the market is focused on Fed Chair Jerome Powell's forward guidance for 2026 cuts, the 10-year yield is climbing suggesting hawkish sentiment, and momentum indicators like the CoinDesk Bitcoin Trend Index signal a strong downtrend. Furthermore, U.S. spot bitcoin and ether ETFs saw net outflows last week. Analysts note that while underlying metrics like large wallet accumulation and low exchange supply are constructive, the market remains sensitive to macro factors, a hawkish Fed decision, or ETF flow reversals. The week also features significant token unlocks and ongoing conferences.
(Source：CoinDesk)