Last night's market was quite intriguing, with several significant events stirring the market. The U.S. second quarter GDP and 'non-farm payrolls' data exceeded expectations, indicating that the Federal Reserve is unlikely to cut interest rates in the short term, dousing the market with cold water; the Federal Reserve's meeting kept interest rates unchanged, marking the fifth time this has happened, but two governors appointed during Trump's administration voted against it, advocating for a 25 basis point cut, which is the first notable internal disagreement in 30 years.
Following the meeting, the market plummeted, $BTC
It once dropped to around $115,000, but soon after, the major players bought in secretly after washing out large holders and liquidating bottom long positions, allowing BTC to recover lost ground and keeping retail investors firmly in check.
In a broader sense, one must be clear that the U.S. has likely passed the most challenging phase of the trade war, having just signed a comprehensive trade agreement with South Korea yesterday; institutions in the crypto space are still frantically buying BTC, with circulation decreasing and supply-demand tightening, suggesting that BTC might surge to $150,000 in August or September.
Altcoins remain the same, fluctuating alongside BTC; for trading, it's advisable to take profits when the opportunity arises, while larger funds are still firmly focused on BTC for stability.
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What specific impacts does the comprehensive trade agreement between the U.S. and South Korea have on the market?
What are the reasons for the Federal Reserve's decision to maintain interest rates?
What is the reason behind institutions in the crypto space frantically buying BTC?