Coinbase Report: Economic Pressure Heavy on Crypto Market!

Coinbase latest research report indicates that macroeconomic pressures are significantly impacting the cryptocurrency market. Analysts predict that the market will remain vulnerable in the coming weeks, as there are insufficient catalysts to drive price increases. This situation has raised concerns among many investors.

The recent decision by the Bank of Japan to raise interest rates and geopolitical tensions in the Middle East are acting as influential factors on the market. Investors have shown caution by drastically reducing leverage use in on-chain spot markets.

For Q3 2024, Coinbase has adopted a cautious stance, and future U.S. inflation data will determine the company’s outlook. However, analysts have maintained their optimism, believing that if the U.S. economy improves, the value of tokens will rise. They even predict that Bitcoin (BTC) might reach its all-time high this year.

For investors, understanding the relationship between macroeconomic factors and market dynamics is crucial.