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Will the US interest rate cut be implemented soon? Should we hold or sell?
BTC once dipped to the support level of $63,000 on that day, and then rebounded slightly. As of the time of writing, the trading price is $63,105, with a decrease of nearly 2% in the past 24 hours.
Will a Fed rate cut trigger a bitcoin bull market? What is the expected price of BTC?
Federal Reserve Chairman Powell hinted at a rate cut in September, which may lead to volatility in the crypto market. The rate cut could stimulate economic growth and potentially divert funds from the bond market to the crypto market, driving up the price of bitcoin.
With Powell's remarks igniting the cryptos market, bitcoin has risen by 5%.
On Friday, August 23, 2024, after recent comments by Federal Reserve Chair Jerome Powell, bitcoin soared more than 5%.
BlackRock ETF Sees Biggest Inflow in 35 Days as Bitcoin Weekly Rally Pauses
Rate cuts and bullish ETFs: Will the cryptocurrency market see an explosive increase?
The decision to cut interest rates is essentially confirmed, which is a long-term bullish for the market rather than a short-term stimulus.
After bitcoin broke through the 65,000 level, is the pullback an adjustment or a true correction?
The recent price trend of Bitcoin is influenced by key factors. The initial concerns about the Mt. Gox trustee and the possible sale of BTC by the German and US governments have now largely subsided. However, the upcoming US presidential election, often referred to as the “Bitcoin election” within the cryptocurrency community, has brought new uncertainty, causing investors to adopt more cautious risk aversion strategies.