Cryptocurrencies like Bitcoin are on a tear as global stocks hit record highs amidst expectations of U.S. interest rate cuts. Ether is up 42% this year, outperforming Bitcoin’s 32% gain. Asian stocks are taking a breather after recent highs, as investors anticipate further interest rate cuts by the Federal Reserve.

Treasury Secretary Scott Bessent hinted at a potential 50 basis points rate cut in September, citing strong economic data. Federal Reserve Chair Jerome Powell’s upcoming speech in Wyoming will be closely watched for clues on future policy path. The Bank of Japan is expected to raise interest rates due to inflation risks.

Investors will closely monitor European economic data releases, including Euro zone flash GDP for Q2 and UK prelim GDP for Q2. The impact of tariff uncertainties on the economy will also be in focus. Cryptocurrencies, stocks, and central bank policies are driving market sentiment amid global economic developments.

Read more at Yahoo Finance: Bitcoin joins the risk-on party