**Blockchain market is on the rise again: Fed minutes trigger market volatility**
BlockBeats news, on October 10, QCP Capital published a striking article on its official channel, revealing recent market trends. The Fed minutes showed a less dovish tone, which cast doubts on the Fed's victory in fighting inflation. Coupled with the strong non-farm payrolls data released last Friday, market expectations for a 25 basis point rate cut in November rose to 83.7% from 67.9% last week.
Tonight's CPI (Consumer Price Index) and tomorrow's PPI (Producer Price Index) data will be key risk events this week. In addition, the earnings reports of major banks such as JPMorgan Chase (JPM) and Wells Fargo (WFC) will also be an important factor in assessing the strength of the US economy in slowing inflation.
Although US stock indexes rose last night and the S&P 500 hit a new high, this optimism was not reflected in the crypto market in the same way. Selling pressure intensified again due to news about Silk Road's Bitcoin and PlusToken's Ethereum sell-offs. As long as Bitcoin holds the key support level of $60,000, we remain optimistic about the "Uptober" market.
In the current market environment, investors need to remain calm and pay close attention to the upcoming economic data and earnings reports. The market expects further interest rate cuts in the future, which provides investors with an opportunity to lock in gains at the current weak spot price level and prepare for a year-end rebound.
Dear readers, what is your view on the current market? Do you think Bitcoin can hold the key support level of $60,000? Welcome to share your views and insights in the comment section, let's explore this volatile market together! 📈
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This newsletter not only provides the latest market dynamics, but also encourages readers to interact and communicate in the comment section. I hope that while paying attention to the market, you can also actively participate in the discussion and jointly explore the future development of the blockchain industry.
