The early morning meeting was relatively neutral, with Mr. Bao reiterating that interest rate cuts depend on the data. The dot plot still indicates two expected rate cuts in 2025, which is better than some pessimistic market expectations, boosting the probability of a rate cut in September.

The Bitcoin turnover rate has slightly increased, mainly due to short-term investors responding to geopolitical risks. The chips around 105k continue to accumulate, and the anticipated sharp rises and falls have not occurred, showing low enthusiasm for breakthroughs.

This speech has a high artistic component, no wonder he can hold this position...$BTC $ETH #鲍威尔发言