Market dynamics: When will the Fed cut interest rates? At the end of its policy meeting on Wednesday, the Federal Reserve decided to keep interest rates unchanged. At the same time, it pointed out that "some further progress" had been made in reducing inflation to the central bank's 2% target. Fed Chairman Powell declared at a press conference after the meeting that although the meeting had not made any firm decisions on future actions, if economic data showed that inflation was slowing, then a rate cut would most likely be implemented as early as September. "If this test is passed, our policy rate may be reduced as quickly as possible at our next meeting in September," Powell said.
Ethereum's big possibility is really coming!
Ethereum’s Upcoming Catalyst
The first is the approval of Ethereum ETF staking
The second catalyst was the launch of Pectra
Pectra will introduce several major changes: making Ethereum account addresses more programmable and increasing the maximum stake for ETH validators from 32 to 2048 ETH.
Ethereum ETF achieved positive inflows on the sixth trading day. Ethereum has returned strongly. In the next two months, Ethereum ecosystems such as ens, people, and pepe are optimistic and have great opportunities. Every pullback of Ethereum is an opportunity, so start planning!
In the brand new month of August, will BTC break a new high?
As soon as Bao gave his speech early last morning, the market fell back. However, we still need to keep an eye on whether there will be an interest rate cut in September. After all, there are still many uncertain factors. Let’s wait until the data comes out in the next two days. In the near future, we just need to prepare our bullets.
key point
● The Federal Reserve kept interest rates unchanged as expected, but its policy statement was more hawkish than expected.
● Powell indicated at a press conference that the central bank is “getting close” to a possible rate cut.
● The Federal Reserve's benchmark federal funds rate remains in the range of 5.25% - 5.50%.
● Although inflation has eased to some extent, it still exceeds the Fed's 2% target.
● Bond yields and the dollar rose somewhat following the meeting, but remained lower on the day.
● The market had expected at least a 25 basis point rate cut at the September meeting.
● Powell was optimistic about inflation returning to the 2% target, while saying no decision had been made on a September rate cut.
As for the latest market trend, the market has adjusted back due to the impact of news, and will generally operate in the range of 63,000 - 65,000, while Ethereum will generally fluctuate between 3,120 and 3,250. As for the trend of Sol, it will also follow the market to adjust back, and will generally move in the range of 165 - 175.
Looking back at this week, the highest point of 7w started to leak all the way, and none of the key positions were held. Last week, it was mentioned that the participation of short-term funds has increased the difficulty of the market by several levels, and your pattern will be badly damaged.
The most important macro data next week are non-farm payrolls and unemployment rate. According to technical trends, non-farm payrolls should exceed expectations, and unemployment rate should stabilize or decline. The Biden administration may continue to sell Bitcoin to recover funds and contribute to the real economy. The benefits brought by the demand for interest rate cuts will basically have little impact, and it is highly likely that they will not use this to canvass votes for themselves. Highlighting economic contributions will be more suitable for what the Democratic Party needs to do now.
August is coming. In addition to the US government and the Mentougou incident, there are also hidden risks. Has a certain country sold all its BTC? Since April, it has basically sold before the 18th. What about August? It remains a mystery. The cost price of BTC in a certain country is around 3,000 US dollars.
Let’s take a look at the cottage aspect:
August will be the first big month for altcoins in the second half of the bull run, and this view remains firm
The correction of Litecoin and Ethereum led to the collective correction of Shansaicoin, but the decline of altcoins did not significantly amplify. Most of the altcoins just corrected with the market. Taking advantage of this opportunity, Shansaicoin completed the daily level. The second step back, the trend is healthy.
Previous demon coins such as STORJ, YGG, TRB, BLZ, CKB, HIF1, FRONT, etc. will definitely take this opportunity to perform again, and there will be new demons appearing, which is worth looking forward to.
In terms of operation, we should seize the good opportunity of the altcoin retracement in early August and buy at a low price. It is expected that there will be good returns in mid-August or late August.
SOL: After the 6-hour level rebounded to a new high, it is currently moving towards the 12-hour level. The price is close to the 12-hour support level. A strong rebound is expected around 167. Don't miss this opportunity.
7 top altcoins ready for a “full recovery”, do you own them?
BCH
As expectations for Bitcoin's bullish growth continue to rise, the price of Bitcoin Cash has also shown an upward trend. The increasing inflows into US Bitcoin spot ETFs and the possibility of Bitcoin breaking through $60,000 have combined to drive the upward trend of Bitcoin Cash. In the medium term, the development of BCH is expected to be more obvious, with an expected growth of 16% in the next six months.
THERE IS
Cardano uses proof-of-stake technology and aims to empower individuals and drive positive global change by promoting security, transparency and fairness. Recently, the Cardano network is about to undergo a major update, the Chang hard fork, marking the beginning of the Voltaire era. portends significant growth.
STRK
STRK is an emerging cryptocurrency with great potential. It aims to use blockchain technology to make financial transactions cheaper and faster. Despite the recent market decline, STRK may soon rise. With the increase in adoption, STRK may stand out in the upcoming altcoin season. Backed by big capital, the ecosystem has produced several head applications, and there are several major upgrades in the second half of this year. The biggest benefit may be the opening of staking at the end of the year.
JASMY
JASMY is a native ERC-20 token that drives all activities within the Jasmy ecosystem. In Japan, Bitcoin has a huge influence, and JASMY's future is limitless. Its valuation has achieved an astonishing growth of more than 320% in just one year, demonstrating its strong market potential and high attention from investors.
RAY
As the largest Dex on the Solana chain, the price of $RAY is quite strong. If you haven’t bought Ray yet, the current price and the $2.1 level below it are the ranges where you can consider building positions in batches.
From the daily level, Ray has shown strong stability in the sideways cycle at the bottom, which means that it has experienced sufficient market cleansing and may usher in explosive opportunities once market conditions are ripe.
ZRO
LayerZero (ZRO) is a leading cross-chain interoperability protocol designed to facilitate seamless communication between different blockchains. The ZRO token is the governance and utility token of the LayerZero ecosystem, enabling holders to participate in the decision-making process and enjoy benefits within the network.
LayerZero achieves this through its unique architecture, which combines multiple advanced technologies to ensure scalability, security, and interoperability. As the blockchain space continues to evolve, the adoption of this technology can unlock new opportunities and drive the growth of decentralized applications, thereby fostering a more inclusive and efficient digital ecosystem. ZRO Token In terms of market capitalization, ZRO ranks 87th with a market cap of $535 million. The market is currently generally bullish, and the token may soon extend its gains to the $15 mark.
JTO
Jito (JTO) has shown resilience during the recent market crash, indicating strong growth potential. Currently trading between $2.37 and $3.20, the nearest resistance is $3.50, while support is solid at $1.83.
With the 10-day moving average at $2.56 and the RSI near neutral at 49.96, bulls seem ready for further gains. If Jito breaks out of the $3.50 resistance, it could surge to $4.33, marking a massive gain of over 30%. Recent price changes, including a 10.5% gain in a month and over 36% in six months, further suggest a bright future ahead.
