Last night, the Federal Reserve indeed maintained the July interest rate benchmark as expected, without lowering rates.
Subsequently, Powell's speech mentioned that whether to cut rates in September will depend on the unemployment rate and a series of other data. It was also a relatively hawkish statement.
As a result, the market experienced a sharp drop:
· BTC fell to a low of 115,000
· ETH fell to a low of 3,680
· SOL fell to a low of 170
However, due to the recent high sentiment in the crypto market, the market's rebound resilience is also strong, and all major cryptocurrencies that fell have returned to the prices before the FOMC meeting.
Because of this, the reminder was given not to take overly extreme contract positions, as it's easy to get liquidated. The price hasn’t changed, but the positions are gone.
Although BTC is currently performing quite steadily, with a decreasing turnover rate, it seems that there is no panic in the market. However, a lot of funds are stuck around the 117,000 dollar mark waiting and watching, with more chips piling up. Once there is a fluctuation in news, such as Trump suddenly speaking out or large holders starting to act, it could easily trigger a sharp directional change in the market.
Next, there are still two key points to watch:
· Today we need to close the monthly line
· At 8:30 PM tonight, non-farm payroll data will be released
If there are any promising targets, notifications will be sent in the group at any time.
