Analysis: Given TradFi's constructive views, it's hard for investors to find a reason for BTC's lack of bullish momentum

Cointelegraph posted on social media that three factors may explain the lack of investor enthusiasm.
Despite the data indicating a higher probability of a rate cut, and the market generally believes that the probability of a rate cut of at least 0.25% in September is more than 90%, the price of BTC remains below $60,000.
Meanwhile, the Standard & Poor's 500 stock market index is down 0.5% from its all-time high, while gold, the market's preferred store of value, is trading down 1.2% from its all-time high of $2,450 set in May 2024.
· Given the constructive views of TradFi, it is difficult for investors to find a reason for the lack of bullish momentum in BTC. According to Farside Investors, this decoupling is particularly concerning given that the spot BTC ETF has attracted $800 million in inflows over the past four trading days.
· Separately, the dollar index, which measures the greenback against a basket of foreign currencies, fell to a five-week low of 104.4, suggesting investors are not seeking refuge in cash positions, which may partly explain the bearish sentiment.