Shinobi - BTCUSD:The risk is reduced when there is a lot of unfa

According to CoinDesk, as of 7:39 AM on August 3rd, the price of Bitcoin stood at $29,202, marking a 1.81% decrease over the past 24 hours.

The market capitalization of Bitcoin has declined to $567 billion today. The 24-hour trading volume in the market decreased by nearly 3.57% to reach $18.3 billion.

The decline in Bitcoin's price has led the entire market to turn red. Specifically, ETH dropped by 1.48%, BNB decreased by 2.68%, XRP went down by 2.5%, ADA saw a decline of 3.19%, and DOGE dropped by 4.39%...

The total market capitalization of the entire cryptocurrency market reached $1.17 trillion, showing a 1.91% decrease compared to the previous 24 hours.

A scenario of low inflation and stable growth would benefit risk assets, including cryptocurrencies, by giving the Fed room to lower interest rates. However, "if the Fed decides to continue raising interest rates, or if the tightening of monetary policy up to now has pushed the economy into a recession, the momentum of cryptocurrency recovery may halt in the near future "