The Federal Reserve decided to keep interest rates unchanged at its interest rate meeting at 2 a.m. today. However, Powell's speech after the meeting suggested that the Fed began to lean towards a rate cut. The 2% inflation target has not yet been reached, but the Fed is optimistic about dealing with the current economic situation, mainly affected by the decline in employment data and the stability of the labor market.
We have pointed out last month that non-farm payrolls and claims showed signs of a recession, which increased pressure for a rate cut. Judging from the trend of the 10-year Treasury yield, a rate cut seems to be just around the corner.
During the market crash early this morning, I decided to increase my position. I increasingly feel that in the face of clear opportunities, it is best to keep empty positions most of the time!
Despite the positive news, the price of Bitcoin did not rise as expected, but the Nasdaq index rose. This reflects the real reaction of the market. We pointed out in the middle of the month that the price gap between 58,000 and 64,000 on the CME of Bitcoin needs to be filled, and now it seems that this is about to happen.
Always keep in awe of the market, because the market is always right. But in any case, the overall market is expected to be optimistic in the second half of this year!
A U.S. senator from Wyoming recently proposed a landmark proposal to include Bitcoin in the strategic reserve. This is not the first time we have heard of such a proposal, but this time it has been formally proposed. Although the outcome is still unknown, this marks the beginning of such proposals, not the end.
Bitcoin is gradually being recognized as an asset with strategic value, and its future potential is gradually unfolding. At the same time, Ethereum founder Vitalik also gave a forecast for Ethereum in the next decade.
In the cryptocurrency industry, the next decade will undoubtedly be more exciting and transformative than the previous decade. Every step of the development of the crypto industry deserves our close attention.
