What did the Fed say at its meeting? What impact will it have on the market?
1: The Fed decided to cut interest rates by 50bp at this meeting, from 5.5% to 5%. The market reacted strongly in the short term, and the bitcoin price hit 6.1w in the short term.
2: Then at 2:30, Powell said that the interest rate cut was to increase employment, but only to stabilize employment. There was no plan to continue the interest rate cut plan. The performance of the job market will be examined later before making plans.
Summary: This rate cut shows the Fed's determination to stabilize employment, but it will take one step at a time. The performance of the pie is rising in the short term. As the saying goes: You have been expecting the girl you like to accept your confession. In the end, the girl accepted your confession, but she said: She only accepted you because you worked so hard, and whether she will talk about love with you in the future depends on your performance.
Analysis: The overall cycle has begun to show signs of interest rate cuts, and the price of gold has soared, but the prices of Bitcoin and Ethereum need to wait patiently for the end of fund accumulation, and a sharp drop is unlikely to come. Technically, Bitcoin's daily MACD has a trend of returning to the zero axis. This wave of positive news is expected to rise to 6.5w. The weekly line has also begun to show signs of stopping the decline, and is in the process of maintaining stability. It is still bullish in the short term.
