Macroeconomics:
According to the latest CME data, the probability of a 50 basis point rate cut suddenly increased to 50%. This is definitely an effective and strong catalyst for the current market!
Affected by factors such as the market's expectation that the US Federal Reserve will cut interest rates next week, the growth of risk aversion demand, and the large-scale gold purchases by the central bank, the price of gold has continued to rise. The increase has exceeded 25% this year, and today it has once again set a new record high!
The Federal Reserve is about to cut interest rates. The price of gold has already foreshadowed the trend of the next price, and has already foreshadowed the extent of his interest rate cut. Gold has also seen an increase, and Bitcoin has also seen a wave of increases, directly breaking through a height of 60,000 US dollars.
Market conditions:
At present, market volatility is gradually increasing, which is closely related to the upcoming interest rate cut. However, the Fed's first interest rate cut is not worth excessive attention. The interest rate cut is good for the market in the long run, but short-term ups and downs are possible. Whether it is a callback after the good news is implemented, or a callback has not arrived, or whether the first interest rate cut surges or not, it will not change my view on the general trend: the long-term trend of the market is still spiraling upward.
From the overall trend, the market is still in a bull market and is expected to hit a record high. Especially those altcoins, most of which are currently at the bottom of the weekly level, ready to break through at any time. Once these altcoins break through, it is very likely to trigger a large-scale rally.
