Fed Chairman Bostic's statement undoubtedly sent an optimistic signal to the market. On the basis of the 50 basis point rate cut in September, he expects another 25 basis point rate cut this year. For businesses and consumers, this means that financing costs will be further reduced, and economic vitality is expected to be further stimulated.

From an investor's perspective, this news may continue to drive gains in stocks and other risky assets. A rate cut is generally seen as positive because it reduces borrowing costs and stimulates economic activity and investment. Against the backdrop of current global economic uncertainty, the Fed's easing policy has provided more confidence to the market and helped ease some concerns about an economic slowdown.

For ordinary consumers, the interest rate cut also means a reduction in the interest rates of mortgages, car loans, etc., which will in turn drive consumption growth. At the same time, the reduction in corporate financing costs will help them expand their business and improve profitability, thereby further promoting economic growth. In general, the Fed's interest rate cut expectations have laid a more relaxed monetary environment for economic development this year and injected new vitality into the market.

The latest Polymarket data shows that Trump's chances of being elected as the US president in 2024 have risen to 56.9%, while Vice President Harris's chances have dropped to 42.6%. This data undoubtedly shows that the market's confidence in Trump's return to the White House is increasing! As a former president, Trump's campaign style and policy propositions are still deeply supported by the core voters of the Republican Party. His tough stance on economic policies, immigration issues and international affairs has attracted the trust of a large number of conservative voters.

On the other hand, although Harris's support rate has declined, she is still an influential candidate. As the first female vice president, Harris has considerable appeal among female voters and minority groups. As the election progresses, her policy advocacy and campaign strategy may be adjusted, which may bring opportunities for her support rate to rise again.

For investors and market participants, these data are not only a signal of political trends, but may also indicate changes in the direction of economic policies. If Trump is successfully re-elected, the tax cuts and deregulation policies expected by the market may re-promote economic growth. If Harris wins, she is expected to continue the policy line of Democratic D, especially in the fields of environmental protection, social welfare and cryptocurrency regulation. Regardless of the outcome, the 2024 election will have a profound impact on the US politics and economy, and the fluctuations in market sentiment are a reflection of this process.

Grayscale and Canary Capital's ETF application submitted to the SEC can be said to be another major good news for the cryptocurrency market! Grayscale's "Digital Large Cap Fund" not only includes Bitcoin and Ethereum, but also covers potential currencies such as Solana, XRP and Avalanche, with an overall asset management scale of US$524 million. Such a diversified configuration allows investors to enjoy the wide range of benefits of crypto assets in one ETF product, especially the strong support of Bitcoin and Ethereum, two industry giants. The 75% and 19% weights mean both stability and growth.

On the other hand, Canary Capital's Litecoin spot ETF application has also attracted market attention. Although Litecoin has not been as popular as Bitcoin in recent years, as one of the earliest cryptocurrencies, it has a strong technical background and community support. The launch of this product will provide a low-volatility, high-potential investment opportunity for investors who are bored with the low volatility of Bitcoin and Ethereum. Litecoin's technological progress and gradually stable market value make it a potential target for safe-haven funds.

The ETF application means that the crypto market has taken a big step towards mainstream compliance! Once approved, traditional investors will be able to easily enter the cryptocurrency field, reducing operational complexity and technical barriers. Especially for those novice or non-technical investors, ETFs provide a safe and compliant way to invest in cryptocurrencies. Coupled with the endorsement of Grayscale and Canary, investor confidence is bound to be greatly enhanced. Whether from the long-term growth potential of Bitcoin or from alternative mainstream currencies such as Litecoin, the future prospects of the crypto market are extremely bright. The continuous inflow of institutional funds means that the crypto market will enter a new round of rising cycle in the near future!

The U.S. spot Ethereum ETF saw a net outflow of 4,831 coins yesterday, worth $12.7 million.

The U.S. spot Bitcoin ETF had a net inflow of 5,651 coins yesterday, worth $373 million.

BTC: Yesterday, a high wind and big wave line was closed, indicating that the long and short sides competed fiercely, and the volatility was large, but in the end, the bulls had a slight advantage. This pattern usually means that the market may enter a shock consolidation stage in the short term.

From the moving average system, it is currently above the MA (60) and MA (120), which indicates that the market is in a bullish trend as a whole, with strong short-term upward momentum. The current key support level can be seen as the MA (60), which is around 61,000, while the strong pressure level above is at 67,900, which happens to be the recent high. If the price breaks through this pressure level, it may open up further upside space.

The DIF line and DEA line of the MACD indicator continue to diverge upward, indicating that the market's bullish momentum is increasing. However, the RSI indicator is currently at a high level of 79 and is in the overbought range, which means there may be a risk of a pullback in the short term.

In summary: If the strong pressure level of 67900 cannot be effectively broken in the short term, the price may fluctuate and consolidate near this high level, or even experience a certain degree of correction. In the medium term, the market bullish trend remains stable and is expected to continue to rise after adjustments. Pressure reference: around 67900;

ETH: Linked to Bitcoin trend. Pressure reference: around 2868; around 3102;

Altcoins: The altcoin market has not officially started. Yesterday, I warned that MEME should not be chased high. Today, the entire MEME sector has undergone a significant adjustment. At present, the capital market has not reached the peak of the bull market, so for most altcoins, chasing high still has risks. It is recommended to continue to wait and see or buy at low prices.

Today's Fear Index: 73 (Greed)