On Tuesday, driven by the prospect of an upcoming U.S. rate cut, the dollar index fell to its lowest point in more than a year, and this month is expected to record the largest monthly decline since November 2022, and finally closed down 0.30% at 100.56. The inversion of U.S. bonds narrowed, with the benchmark 10-year U.S. bond yield closing at 3.8310%; the two-year U.S. bond yield, which is more sensitive to monetary policy, finally closed at 3.9120%.
According to CME's "Fed Watch": The probability of the Fed cutting interest rates by 25 basis points in September is 66%, and the probability of a 50 basis point cut is 34%. The probability of the Fed cutting interest rates by 50 basis points by November is 41%, the probability of a cumulative 75 basis point cut is 46%, and the probability of a cumulative 100 basis point cut is 13%.
Bitcoin continued to fall, breaking the $59,000 mark in early trading, falling more than 5% during the day, and falling nearly $4,000. Ethereum fell 10.00% during the day.
This round is obviously for the bulls. In the first hour, the entire network exploded with 121 million US dollars, which pushed all the gains during this period back to the starting point. So there is no need to think about what to do next. There is no need to think about entering the market before the 4H recovery. The US dollar index is also bottoming out at the same time. Let's see when this round of decline will stop.