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The overnight announcement of the Fed's Interest Rate revealed that the Interest Rate will remain unchanged. However, Federal Reserve Chairman Powell's speech is thought-provoking. He said, 'The rate cut is getting closer; It's widely believed that the Fed is getting closer to cutting rates, but we're not there yet; From now until the September FOMC monetary policy meeting, the Fed will still receive a large amount of data.' According to CME's 'Fed Watch,' the probability of a 25 basis point rate cut in September is 90.5%, and the probability of a 50 basis point rate cut is 9.5%. The probability of a cumulative 25 basis point rate cut in November is 21.7%, the probability of a cumulative 50 basis point rate cut is 71.1%, and the probability of a cumulative 75 basis point rate cut is 7.2%. Based on this news and expectations, the three major stock indexes opened high and closed high, but the encryption market's trend is disappointing. BTC lost the support level of 65,000 points, and ETH fell below 3,300 points!
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Real-time follow-up on the news, you will find that whenever BTC breaks through, there will be news of Mt.GoxBTC compensation. Especially when Trump's old opponent is defeated, there is news that he will throw out all the BTC owned by the US government during his term. The transfer of $2 billion worth of BTC by the US government on Monday has intensified this speculation. Another change is the US election situation, with Harris' polls and support rate higher than Trump's. Overall, the pullback in the encryption market at the moment is due to the impact of these news. However, institutional analysts believe that this kind of news dumping is common, and the upward trend of the encryption market in August remains unchanged.
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Follow Yibo's coin live channel for specific operation in the market after midday!
BTC-0.67%
ETH0.3%
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