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Coinbase Institutional Report: Driven by factors such as US interest rate cuts, Bitcoin is expected to perform strongly in Q4
2024-09-30 00:41
Odaily News Coinbase recently released the "Takeaways from Token2049" report, summarizing the main insights from the Token2049 and Solana Breakpoint conferences held in Singapore. The report wrote: "We expect the fourth quarter of 2024 to be constructive due to interest rate cuts in the United States and significant fiscal and monetary stimulus measures in China, which will enhance market liquidity and support Bitcoin's performance." The report focuses on Bitcoin and high-beta crypto assets and is optimistic about the overall outlook for the market in the coming months. The report also discusses Ethereum's recent difficulties, especially its rising transaction fees: "On-chain activity is growing as DEX trading volume increases and Ethereum Gas fees rise." However, despite the recent launch of a spot ETH ETF in the United States, this has not brought the same effect as Bitcoin. The report describes: "While many market participants are bullish on BTC, we have encountered some industry personnel who are skeptical of ETH because the token does not seem to benefit from the spot ETH ETF launched in the United States more than two months ago." (Bitcoin.com)