U.S. stocks are nearly flat, but Bitcoin rebounds sharply
As the market awaits the Federal Reserve's decision to cut interest rates, U.S. stock investors are afraid to act rashly. Although the U.S. Department of Commerce data released on Tuesday showed that retail sales increased by 0.1% in August, which was better than market expectations and eased investors' concerns that the economy may slow down sharply. concerns, but the four major U.S. stock indexes closed roughly unchanged on Tuesday.
However, compared to the quiet performance of the US stock market, Bitcoin has begun to rise significantly. After Bitcoin hit a low of $57,431 at midnight yesterday (17th), it rebounded sharply and rose rapidly after 10 o'clock last night, 23: 15 once touched $61,343, the highest price since September. As of this writing, it continues to fluctuate at $60,000.
In the past, the market has said that Bitcoin is a leading indicator of the overall economy, and usually an interest rate cut is a major benefit to risky assets such as Bitcoin, which will bring huge liquidity to the market. Therefore, Bitcoin’s performance before the interest rate cut is Strength may be a bullish signal, but is it really so?
