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Top 5 cryptocurrencies to watch this week: BTC, FLOW, THETA, QNT, MKR

Published 08/07/2022, 02:29 PM
Updated 08/08/2022, 04:20 PM
Top 5 cryptocurrencies to watch this week: BTC, FLOW, THETA, QNT, MKR

The United States jobs data on Aug. 5 was above market expectations, indicating that inflation has not cooled down. The strong numbers reduce the possibility that the U.S. Federal Reserve will slow down its aggressive pace of rate hikes. After the release, the likelihood of a 75 basis points hike in September has risen to 68%, according to CME Group (NASDAQ:CME) data.

However, analysts at Fundstrat Global Advisors have a different view. They highlighted that three out of six times, the S&P 500 bottomed out six months before the Fed’s last rate hike. Therefore, the firm anticipates the S&P 500 to witness a strong rally to 4,800 in the second half of the year.

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
FLOW/USDT daily chart. Source: TradingView
FLOW/USDT 4-hour chart. Source: TradingView
THETA/USDT daily chart. Source: TradingView
THETA/USDT 4-hour chart. Source: TradingView
QNT/USDT daily chart. Source: TradingView
QNT/USDT 4-hour chart. Source: TradingView
MKR/USDT daily chart. Source: TradingView
MKR/USDT 4-hour chart. Source: TradingView

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