WHAT TO EXPECT NEXT?!?!$BTC $ETH
Yesterday's full rebound in the cryptocurrency market saw its bullish sentiment quickly extinguished by the sharp plunge of Bitcoin and Ethereum last night. The market is at a critical turning point, where any news can cause temporary impacts. Federal Reserve Governor Bowman made hawkish remarks, stating there is no reason to cut interest rates this year unless unexpected shocks occur. He hopes to see several months of improved inflation data before being ready to cut rates, which may not happen until after "several meetings." If unexpected shocks occur, then a rate cut might be possible. This news caused Bitcoin to drop from around $63,000 to near $60,000, and Ethereum to fall from $3,050 to around $2,877.
Currently, in terms of market conditions, Bitcoin and Ethereum have significantly dropped on the daily chart, creating a large gap with the 5-day moving average (MA5). It is expected that there will be a short-term technical rebound adjustment today. The 12-hour KDJ and MACD trends are similar to the daily chart, but the BOLL lower band opening is not wide, and there is also a significant gap between the main chart prices and MA5. Therefore, it is expected that there will be a slight rebound adjustment in the short term today.
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