Cryptocurrency markets traded higher for the second consecutive day on Wednesday on growing bets of imminent U.S. rate cuts.
Cryptocurrencies have rallied on the back of growing expectations of a Fed easing cycle likely to commence in September, with Powell saying on Tuesday that the U.S. is "no longer an overheated economy". However, he provided little clues on how soon those rate cuts could come.
Meanwhile, the closely-watched U.S. inflation report is due on Thursday, where expectations are for core consumer prices to have held steady on a monthly basis in June.
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