That said, this does not necessarily mean that the Fed won’t raise rates. During the last FOMC meeting, three Fed governors disagreed with the decision to keep rates unchanged.
The primary reason for this is that inflation is quite distant from the Fed’s target of 2%. As internal pressures persist, there is still a risk that the central bank would lean toward adopting a more aggressive approach to keep prices from spiraling out of control.
If the Fed does delay a rate hike or comments point to a dovish stance, that could have a significant impact on the price action as it could prompt a risk-on move across the crypto space.
Coldcard Hack Continues to Weigh on Sentiment
News of the Coldcard hack may have temporarily put a lid on the rally that started on August 1. Thus far, investigators have uncovered total losses exceeding $100 million from the incident.
Cold wallets have been deemed the safest method to store digital assets. However, this breach highlighted that a weakness in the wallet’s coding could still result in losses.
