Tom Lee, chief investment strategist at Fundstrat, believes the crypto market could see a ‘surprise upside’ at the Federal Reserve meeting scheduled for September 15. If the Fed holds interest rates in the current range of 3.50% to 3.75%, markets could rally strongly, with Lee identifying cryptocurrencies, particularly ether, as the assets most likely to surge. Two labor reports are scheduled before the Fed decision, the JOLTS report on September 1 and Non-Farm Payrolls on September 4, followed by CPI data on September 11. At the time of writing, a rate hike appeared 69% likely. Glassnode warned that rising Bitcoin leverage could undermine bullish momentum, with Bitcoin trading around $78,300 after rebounding from a low of $64,000.
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