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Avalanche Price Struggles to Rally, But Arthur Hayes Questions Rate Cut Optimism

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Avalanche ($AVAX) price has entered a downward trend, mirroring broader market downturns. Other cryptocurrencies have also experienced declines in value. Notably, Bitcoin has dropped below the $58,000 mark, prompting a significant fall in major altcoins. These market movements have sparked concerns about a potential bearish period in September.