The current cryptocurrency market shows a volatile trend for Bitcoin, weak recovery for Ethereum, and altcoins relying on Bitcoin's movements. There are various expectations regarding the timing of the Federal Reserve's interest rate cuts, with some opinions suggesting that cuts may begin in September. The specifics are as follows:

Market situation in the crypto space 8: Bitcoin shows volatile movements, with a small positive monthly close, but four-hour and daily charts are showing signs of decline. If it breaks below $106,000, it may open up further downtrend space. Ethereum seems strong in the past couple of days, but in reality, it is just a recovery from previous stagnation, having touched the $2,520 resistance level but failing to stabilize, and it has not broken through the key level of $2,600, remaining essentially volatile. Although altcoins have seen some rebound from the bottom, they give back all gains with even slight corrections in Bitcoin, indicating insufficient market liquidity.

Timing of the Federal Reserve's interest rate cuts: According to a report from the Financial Associated Press on July 1, Goldman Sachs' latest prediction is that the Federal Reserve will resume interest rate cuts this September, three months earlier than previously estimated in December. Goldman Sachs believes that the inflation impact of tariffs is smaller than expected, forecasting rate cuts of 25 basis points at the meetings in September, October, and December this year. However, Atlanta Fed President Bostic reiterated that he expects only one rate cut in 2025, with no specific timing provided, and he also anticipates three rate cuts next year. The CME Group's FedWatch Tool indicates that the probability of the Fed maintaining interest rates in July is 79.8%, while the probability of a rate cut is 20.2%.