“When the Federal Reserve moves, the cryptocurrency market shakes,” unemployment data may become a new barometer for the crypto world!

Tonight at 8:30 PM, the number of initial unemployment claims in the U.S. will be revealed. This is not just a significant event for the stock and foreign exchange markets, but also a critical moment for our cryptocurrency market! According to BlockBeats, the expected number of initial unemployment claims for the week ending August 28 is 230,000, down from the previous value of 235,000. And before the data is released, CME's 'FedWatch' has already provided a heavy prediction: the probability of a 25 basis point rate cut in September has soared to 87.2%!

What does this rate cut mean for the cryptocurrency market? Simply put, a rate cut means more liquidity; there will be more money in the market, and naturally, some of it will flow into the cryptocurrency space, driving up the prices of Bitcoin and other cryptocurrencies. Just like in previous instances when the Federal Reserve cut rates, Bitcoin saw significant price increases.

I personally believe that if a rate cut does happen this time, Bitcoin is likely to experience another wave of upward momentum. Moreover, looking at the data, the cumulative probability of a 50 basis point rate cut has reached 44.7%, indicating that the market has a strong expectation for future rate cuts. This expectation itself will provide support for cryptocurrency prices.

For example, last year, whenever the Federal Reserve made any moves, Bitcoin's price fluctuated accordingly. Sometimes it surged, sometimes it plummeted, but overall, Bitcoin performed quite well in the environment of rate cuts.

So, friends in the cryptocurrency space, keep a close eye on this unemployment data tonight. Who knows, this could be a new starting point for your wealth growth!

Furthermore, the next two FOMC meetings of the Federal Reserve are of utmost importance. Want to get the latest information as soon as possible and grasp the pulse of the market?

Then hurry up and follow me, @BlockchainKey, to navigate the cryptocurrency world and not miss any opportunity to get rich! #币安HODLer空投DOLO