Oddbean

Will Growth Concerns Hamper Crypto Market Sentiment? ========== Anxiety over the final reading of U.S. Q2 GDP on 9/26/2024 muted crypto market sentiment; initial GDP growth estimate was 2.8%, revised to 3%; Q1 2024 growth fell to 1.4% from 3.4% in Q4 2023; Fed Chair Jerome Powell's speech added market nervousness; Fed's GDP growth forecast for 2024 lowered to 2% from 2.1%; crypto market cap rose to $2.25 trillion; meme category market cap increased by 6.9% to $46.9 billion; Shiba Inu (SHIB) gained over 12%; Bitcoin traded at $63,756.16, 14% below its all-time high; Ethereum down 0.14% at $2,618.38; significant inflows into Bitcoin and Ethereum ETFs; Dogecoin (DOGE) up 4.5%; Worldcoin (WLD) surged over 15%; Sui (SUI) led losses with a 2.9% decline. #Cryptocurrency #Gdp #MarketSentiment #Bitcoin #Ethereum #ShibaInu #Inflation #Fed #MonetaryPolicy #CryptoMarket https://www.rttnews.com/3477586/will-growth-concerns-hamper-crypto-market-sentiment.aspx