CandleFocus Sahm Rule indicates US recession remains likely but crypto may be set for bullish reversal
2024-09-09
Author: Content Editor
The Sahm Rule, an indicator of an imminent recession in the United States, is continuing to show elevated risks, further contributing to bearish sentiment in the crypto markets. On-chain trends for Bitcoin have been negative, with net selling volumes and increased selling pressure from whales. The overall sentiment in the crypto markets remains bearish, with only a few indicators above their short-term trend. However, some analysts suggest that a bottom may have been reached in early August, potentially signaling the start of a renewed bull run, based on expectations of looser monetary policy from the Federal Reserve. While conflicting signals persist, there is a possibility for a market reversal in the future.
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