Crypto Rebounds! Ethereum & XRP Boost Interest Rate Sentiment
The global crypto market showed a moderate recovery on Monday. Bitcoin held steady around US$114,000, up about 0.7% from a low of around US$112,256 last weekend. Altcoins also rallied: Ethereum rose 2.6%, XRP surged 5%, Solana +1.1%, and Dogecoin rose 3.3%. However, weekly performance remained negative, with Bitcoin down about 3% and Solana down 11% over the past seven days.
Investor optimism grew on expectations that the US Federal Reserve would cut interest rates in September to ease economic pressures. This expectation was a positive catalyst for riskier assets like crypto, strengthening broader market sentiment. Simultaneously, a disappointing US jobs report also boosted demand for digital assets as a hedge against uncertainty.
In a different trend, MicroStrategy—through its new entity “Strategy”—announced a major purchase, adding 21,021 Bitcoin worth US$2.46 billion between July 28 and August 3. The company currently manages approximately 628,791 BTC, worth over US$72.5 billion, strengthening Bitcoin's prospects as a long-term corporate treasury asset.
Source: Newsmaker.id
