On September 19, Bitcoin's trend was somewhat volatile. It initially rose by about 2%, but at around 2 a.m., there was a sudden "dive", which wiped out all the previous gains. Then it began to rebound. As of now, the price of Bitcoin is $62,493.3, up 3.74%.
The recent trend of Bitcoin is like a roller coaster, with ups and downs. According to ColinGlass data, in the past 24 hours, 67,405 people have liquidated their positions, evaporating $198 million (about 1.4 billion yuan).
Since Bitcoin hit a high of nearly $74,000 in March, it has been fluctuating in a relatively narrow range. Karim Dandashy, an over-the-counter trader at Flowdesk US, said, "After a few weeks of small fluctuations between 25 and 50 basis points, the market has eased a little bit and has become more sensitive."
According to CCTV News, after a two-day monetary policy meeting, the U.S. Federal Reserve announced on September 18 local time that it would lower the target range of the federal funds rate by 50 basis points to between 4.75% and 5.00%. This is the first interest rate cut by the Federal Reserve since March 2020, and it also means that monetary policy has shifted from tightening to easing.
Federal Reserve Chairman Powell said at a press conference after the meeting that the 50 basis point rate cut was a "powerful action" and emphasized that the Fed believes that this rate cut is not late but a "timely decision."
Hedge fund manager Anthony Scaramucci predicts that Bitcoin is expected to hit new highs after the Federal Reserve cuts interest rates and the November presidential election. He said that the gradual clarity of U.S. cryptocurrency regulation will be a key factor driving Bitcoin's rise.
Scaramucci mentioned on September 18 that “in the first phase of the new US Congress, we will see legislation that is favorable to cryptocurrencies, Bitcoin, and stablecoins.”
He also mentioned the Federal Reserve's decision to cut interest rates as another boost, and he was particularly optimistic about bipartisan legislation supported by both Republicans and Democrats.
In the current presidential campaign, Trump has publicly supported cryptocurrencies in order to win donations and votes, while Vice President Kamala Harris's stance on digital assets is unclear.
Scaramucci predicted that the Federal Reserve could cut interest rates by at least 150 basis points over the next 18 months, which would be positive for U.S. and global asset prices. He added that Bitcoin could rise to $100,000 by the end of the year. He made these comments during a conference in Singapore.
