<\/p>\n
Bitcoin and most altcoins surged on August 13 as the Crypto Fear and Greed Index turned green and expectations for a Federal Reserve interest rate cut rose following the July inflation data.<\/p>\n
<\/p>\n
Bitcoin (BTC) crossed the important resistance point at $122,000, while Ethereum (ETH) soared above $4,700. Other top-perfoming tokens were Solana (SOL), Binance Coin (BNB), and Ripple (XRP).<\/p>\n
The ongoing crypto rally coincided with broader risk-on sentiment among market participants. The Crypto Fear and Greed Index advanced to the \u201cgreed\u201d zone at 63.<\/p>\n
Similarly, the broader Fear and Greed Index tracked by CNN Money climbed to 66, helping explain why major equity indices such as the S&P 500 and the Nasdaq 100 soared to a record high.<\/p>\n
The optimism is being driven by expectations that the Federal Reserve will cut interest rates in September.<\/p>\n
In a statement, Treasury Secretary Scott Bessent urged the Fed to deliver a 0.50% cut next month, while President Donald Trump has called for a 300 basis point reduction.<\/p>\n
The odds of a rate cut increased after July\u2019s nonfarm payroll and consumer inflation reports. Jobs data showed hiring slowed, with the unemployment rate rising to 4.2%.<\/p>\n
A report on Tuesday showed that the US inflation remained at 2.7% in July, even as the core CPI rose to 3.1%. Most of the price hikes were in the services industry.<\/p>\n
Bitcoin and top altcoins are going up amid rising demand among institutional investors. Spot\u00a0Ethereum ETFs have added\u00a0over $1.7 billion in inflows this week, while treasury companies like SharpLink and BitMine are continuing their accumulation.<\/span> In a note to crypto.news, James Toledano, the COO at Unity Wallet said:<\/p>\n \u201cEthereum is within about 4% of its ATH, and continued ETF inflows and institutional demand could plausibly push it to new highs. I do see it reaching and possibly surpassing the ATH.\u201d<\/p>\n<\/blockquote>\n Spot Bitcoin ETFs have also seen strong inflows, bringing cumulative assets to $54 billion. Derivatives-based ETFs like SSL and XXRP have continued to add assets, signaling further demand.<\/p>\n Cryptocurrency prices are also driven by expectations that the Securities and Exchange Commission will approve multiple exchange-traded funds tied to Solana, Cardano, Hedera Hashgraph, and Dogecoin.<\/p>\n While the crypto bull run may continue, some analysts see risks to the ongoing surge. Toledano warned:<\/p>\n \u201cThere\u2019s reason for caution as always: derivatives data show traders remain guarded rather than euphoric, and macroeconomic or recession fears could dampen momentum.\u201d<\/p>\n<\/blockquote>\n BTC price chart | Source: crypto.news<\/p>\n Another potential risk is technical: Bitcoin is forming a possible double-top pattern at $123,000 with a neckline at $112,000. A confirmed double-top could trigger a reversal, which would likely lead to deeper declines across altcoins that tend to follow Bitcoin\u2019s lead.<\/p>\n <\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin and most altcoins surged on August 13 as the Crypto Fear and Greed Index turned green and expectations for a Federal Reserve interest rate cut rose following the July…<\/p>\n","protected":false},"author":1,"featured_media":400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=7679"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7679\/revisions"}],"predecessor-version":[{"id":7680,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7679\/revisions\/7680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/400"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=7679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=7679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=7679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Crypto bull run faces risks ahead<\/h2>\n
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