💥Fed minutes hint at September rate cut!
⚡️Bitcoin breaks through $61,000!
I: Key points:
Expectations for rate cuts increase, FOMC July minutes show
If inflation continues to cool, most officials prefer September rate cuts
Market sentiment reaction
Traders expect the first rate cut to be implemented less than a month after the FOMC meeting on September 18
The rate cut range is controversial, and the market disagrees on the rate cut range
The probability of 25 basis points is 64%, and 50 basis points is 36%
The labor market cools down, and the latest data revision shows
The non-farm payrolls fell more than expected, and the labor market cooled down for a longer time
II. Market reaction:
Bitcoin rebounded, affected by the expectation of rate cuts.
Bitcoin prices rebounded from the support level of $58,850 to a high of $61,820.
Summary:
The consensus within the Fed on the September rate cut has increased, and market sentiment has risen accordingly.
It has driven up asset prices including Bitcoin.
However, there are still different views on the specific extent of the rate cut in the market.
At the same time, the further cooling of the labor market also provides additional support for the expectation of interest rate cuts.
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