Bitcoin Pulls Back Before Probable Fed Rate Cut

Bitcoin
sank

below
$59,000

having
spent
much
of
the
weekend
above
the
$60,000
mark.
BTC
traded
around
$58,550
in
the
European
morning,
a
drop
of
2.4%
over
24
hours
at
the
start
of
a
week
in
which
traders
worldwide
expect
the
Federal
Reserve
to
make
its
first
interest-rate
cut
in
more
than
four
years.
The
broader
digital
asset
market
as
measured
by
the
CoinDesk
20
Index
(CD20)
is
3.6%
lower.
Crypto
markets
were
buoyed
by
favorable
U.S.
economic
data
on
Friday,
which
sparked
a
short-term
rally.
Bitcoin
ETFs
saw
inflows
of
over
$263
million,
their
highest
since
July
22,
while
the
ether
equivalents
added
around
$1.5
million.