The Fed's interest rate cut has landed! Bitcoin hits a new historical high, and a global buying frenzy sweeps in!
The Fed cut rates by 25 basis points as expected, with Powell slightly adjusting his wording in the statement, removing the term 'more confident,' indicating that the upcoming elections will not affect policy in the short term. He emphasized that he will not resign due to Trump and reiterated that there is currently no consideration of raising rates.
Future rate cuts will be flexibly adjusted, but the omission of the term 'confidence' does not imply any indication regarding sticky inflation, aiming to avoid excessive forward guidance.
Last night, Bitcoin's price surged! According to data from Coinbase, Binance, and Upbit, Bitcoin on Coinbase had the highest premium, even surpassing Binance, highlighting the strong buying power in the U.S.! The ongoing buying frenzy in the American market is prompting a global response.
BlackRock's IBIT saw an influx of $1.1055 billion yesterday, and Fidelity's FBTC also netted an inflow of $190.9 million.
Ethereum did not fall behind either, with the ETH/BTC exchange rate rebounding strongly by 12% in two days. Let's hope the foundation doesn't come out to crash the market, as the heat has just begun!
