6.5 Expectations for the Fed's Interest Rate Cuts Rise! Will BTC Experience a Violent Rebound or Continue to Decline?
Looking back at BTC's data, today's turnover rate has significantly increased. Upon checking the data, it appears that two transactions involving a total of over 230,000 BTC have occurred, likely related to the consolidation of exchange wallets. This situation usually happens about once a quarter and will not affect the price, so actually, BTC's price today remains within a narrow range of fluctuations.
Recently, the influence of both Trump and the Federal Reserve on the market has been diminishing. Although there have been several speeches from Federal Reserve officials in the past week expressing concern over tariffs, they have also indicated to the market that as long as tariffs are not determined, the Federal Reserve will not provide a clear response. Therefore, the market has adjusted its expectations for interest rate cuts, and currently, the probability of a rate cut in the third quarter is less than 28%. Although turnover has increased significantly, the range between $93,000 and $98,000 still serves as the most solid support. At this point, as long as investors at this level do not exit significantly, the impact on the price will not be substantial.
Trading Recommendations:
Short BTC at 105500-106000, target around 102000-98000. Stop loss at 107000.
Short ETH at 2630-2670, target around 2450-2350. Stop loss at 2720.
