Odaily Planet Daily News CoinDesk quoted 10x Research founder Markus Thielen as saying in a report that if the Federal Reserve cuts interest rates in September 2024 simply because of inflation concerns, this may be a short-term positive for Bitcoin. However, if economic growth concerns lead to rate cuts, whether in September or later, Bitcoin may face huge selling pressure. In addition, Wells Fargo Investment Institute strategists said that the arrival of the Fed's rate cut cycle often coincides with a sharp drop in the stock market. Since 1974, the stock market has fallen by an average of about 20% within 250 days of the Fed's first rate cut. This means that cryptocurrency traders should be alert to signs of a weak U.S. economy.