Galaxy Digital warns of rising leverage risks as altcoins face broad declines, while global regulatory and institutional developments shape the crypto market outlook.
The probability of a U.S. Federal Reserve interest rate cut in September remains at 84.6%, with Goldman Sachs projecting three total cuts this year. Galaxy Digital warns that rapid leverage growth heightens market vulnerability. Altcoins broadly declined, with RAY falling over 9% in 24 hours and X Layer network’s trading volume down 12.86% to $37.35 million. Ark Invest’s ARKK ETF holds 6.28% in Coinbase and 3.22% in Bitmine. Pump.fun dominated with 79.4% market share, Letsbonk at 12.9%. BIO surged over 37%, briefly surpassing $0.15. South Korea’s financial regulator plans to submit a stablecoin bill in October, while Thailand launched a Tourist Wallet for foreign visitors with crypto functionality still in sandbox testing. Andreessen Horowitz noted rapid blockchain adoption by financial institutions, and Coinbase projects $7 trillion cash could drive altseason by September, though the current index is 40, below the 75 threshold.