This morning, the Federal Reserve announced a 25 basis point cut in the benchmark policy rate to a range of 4.25%-4.5%. However, it indicated that the number of rate cuts in 2025 might be lower than previously expected. Moreover, Powell described this shift as a 'new phase' of monetary policy and emphasized that after a 100 basis point cut in 2024, rates are now noticeably closer to a neutral stance.
Although this rate cut result aligns with market expectations, the hawkish wording in the statement and adjustments to economic forecasts have had a profound impact on market sentiment, causing both the U.S. stock market and the cryptocurrency market to plunge, with the cryptocurrency market experiencing a significant overall correction.
Bitcoin has fallen below $100,000 for the first time this week, and altcoins are also experiencing a 'bloodbath.' When asked about Bitcoin reserves, Powell stated, 'Currently, it is not allowed to hold Bitcoin, and I do not wish to change the law.' Is the policy bull market coming to an end, or are there other variable factors before Trump's official inauguration?
In fact, the market's expectations for Bitcoin have started to diverge, especially as the widespread bullish sentiment has weakened before breaking through the $100,000 mark. But I still want to complain, normally after a rate cut, prices should rise, yet Powell's statement has led to the current situation, with the liquidation line for long contracts densely packed in the $98,000 - $104,000 range, and Bitcoin's price has directly reached $98,500.
However, you have to understand that market policy is not entirely up to them; they also need to look at the data. Words can be said casually, but policies cannot be decided arbitrarily; policies must be based on data. Ultimately, how interest rates will be cut next year still depends on various data.
What I want to say is that the bull market has just begun, Bitcoin is expected to reach $150,000, ETH is expected to hit $8,000, Doge is expected to reach $1, and Pepe is set to go up five times.
This rising process will wash countless people out of the market. All we can do is maintain a good mindset, make appropriate allocations, and wait; we can't really do anything else.
Bottom fishing for the three most worthwhile cryptocurrencies to prepare for a 100-fold explosion in the bull market!
1. JUP
The current price of Jupiter (JUP) is $0.923. The trading price of Jupiter is far above its 200-day simple moving average (SMA) of $0.003332, exceeding that level by 30,294.77%. Despite its strong technical position, current price sentiment is bearish, with the fear and greed index showing 81, indicating extreme greed in the market. Jupiter also demonstrates high liquidity, reflecting its market capitalization stability and investor confidence.
Although there is clearly bearish sentiment for Jupiter in the short term, its long-term outlook remains optimistic, with significant potential for price growth and return on investment. Investors may find opportunities in the upward momentum over the next year.
2. UXLINK
The current stock price of UXLINK is $1.187, having increased by 26.7% in the past 24 hours, driven by a significant increase in trading activity.
In addition to performance, UXLINK recently announced a strategic partnership with DuckChain to build a Social Growth Layer (SGL). This collaboration is supported by UFLY Labs, which will invest in DuckChain to drive global business development. DuckChain is the first consumer layer of TON, connecting TON with EVM, BTC, and other ecosystems supported by Arbitrum.
Sentiment around UXLINK remains bullish, with the fear and greed index currently at 81 (extreme greed), further confirming this. Additionally, UXLINK recorded 18 green days in the past 30 days, accounting for 60% of that period. Due to its high liquidity relative to its market capitalization, UXLINK continues to gain strong momentum and investor confidence.
3. NEO
Neo is often referred to as the 'Ethereum of the East.' It is an innovative blockchain platform designed to create a comprehensive smart economy by integrating digital assets, digital identities, and smart contracts. It supports multiple programming languages such as C#, Python, and Java, making it accessible to a wide range of developers, thus fostering innovation within its ecosystem.
In recent months, NEO has made significant progress in enhancing its platform and expanding its ecosystem. Notably, NEO's pre-alpha testnet launched on December 19, 2023, marking a key development in the token's evolution. Additionally, on December 13, NEO welcomed HashKey Cloud to the Neo Council, strengthening its governance and collaborative efforts.
As of today, NEO's trading price is approximately $17.79, placing it among the top 100 cryptocurrencies. Over the past week, the token's price has risen by about 4.35%, showing a positive upward trend. Over the past year, this price has further increased by 32%, and it has been trading above the 200-day simple moving average.
The token has established strategic partnerships to strengthen its ecosystem. NEO has partnered with BSN, which is developed by a state-owned entity in China and aims to promote blockchain technology. This collaboration enhances the token's presence in the blockchain space and facilitates broader adoption of its platform. NEO continues to play a significant role in the blockchain ecosystem with its vision of an innovative economy and developer-friendly platform.