The previous interest rate cuts were in line with expectations, benefiting the market, which influenced the cryptocurrency sector's rise and pullback. Market sentiment has now digested this, and the next focus is on the Federal Reserve's interest rate meeting on October 28. At 12:35 AM today, Powell spoke about the economic outlook but did not make any clear statements. He believes that the Federal Reserve's interest rate stance remains slightly tight, which means that if the data shows labor market weakness surpassing inflation setbacks, there may still be a possibility for interest rate cuts this year. Therefore, Ethereum is now stabilizing in the range of 4110-4220 after the pullback, with no major positive news continuing to short around 4200, and long around 4100, taking profits after eating 30-50 points in the swing.
ETHUSDT
Perp
3,044.39
-1.73%