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BTC breaks through the 0.06 million mark. How will interest rate cuts and elections affect the market? Will the bull market return quickly? How should we avoid the market peak?
Last night, the market changed rapidly, with all asset classes rising across the board. The next focus is whether the market can stabilize around the 60,000 level. Currently, the market is about to enter a sideways phase, and the next change will be next week.
Bitcoin Regains Its Correlation With the S&P 500 Ahead of FOMC Meet
Is the bull back? The reason for today's BTC rise to $0.06 million is bitcoin.
Affected by the US PPI data and the Federal Reserve's 50 basis point interest rate cut, the price of Bitcoin reached $60,000 today. Institutional BTC purchases also boosted momentum.
Will the Fed's rate cut weakened recession expectations, help boost the rebound of BTC?
Bitcoin: This week, Bitcoin has shown a rebound trend. Market traders have alleviated their concerns about trading during an economic recession, generally believing that the probability of a recession in the United States is relatively low. After the announcement of the U.S. CPI data in August, it can be seen that the CPI has been significantly alleviated and has made further progress towards the 2% target monitored by the Federal Reserve. As a result, the majority of traders in the market are betting that the Fed will cut interest rates by 25 basis points next week, but this represents a defensive rate cut as the U.S. economy has not experienced a recession. Therefore, a rebound has occurred this week after a sharp decline in the past two weeks.
Bitcoin Price Prediction – Here's How a New BTC Golden Cross Can Play Out
9.14 Zhang Lihui: Where is the bullish space after the strong break of the bitcoin? Where is the more suitable opportunity to short the market? Today's reference for bitcoin (BTC).
Change starts with understanding, understanding starts with making connections; walking with Lihui, seeing more possibilities. Listen to different perspectives and accumulate wisdom. Let's explore new perspectives together, solve problems, and broaden our thinking! In 2024, Lihui is willing to guide you to win in the cryptocurrency market!