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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