0230 GMT - Bitcoin falls in Asian trade as it remains in a prolonged cyclical bottoming and consolidation phase, CoinMarketCap analyst Ray Salmond says. Traders appear to have already priced in the fallout from the U.S. Congress's failed push to advance the pro-crypto Clarity Act, which has faced opposition from the Democrats, he adds. Salmond notes that bitcoin continues to lag as the S&P 500, Dow and key commodities climb toward new highs. With progress on the Clarity Act stalled, traders are expected to refocus on the coming U.S. CPI print, the Jackson Hole economic policy symposium and the September Fed meeting for clues on the central bank's interest-rate plans. Bitcoin is down 0.2% at $64,927.20.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments