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Bitcoin suddenly surged after the U.S. stock market opened last night, jumping from $57,500 to over $60,000 in an instant, which seemed to be speculation on expectations of an interest rate cut.
However, it should be noted that interest rate cuts may not always be a good thing. If concerns about a sudden economic recession erupt, Bitcoin's rise may be reversed in an instant.
At the same time, other currencies are indifferent, with most altcoin prices still hovering at the level of Bitcoin at $58,000, leaving altcoin players very depressed.
The extremely weak performance of Ethereum (ETH) has fulfilled the slogan of the group of friends, "Ether will be empty in case of trouble", and the exchange rate continues to fall.
Solana (SOL) also appeared weak. Although the decline was not dramatic, the increase was also weak and lacked significant benefits. The rise and fall trends in the altcoin market seem to remind us that in this wave of market conditions, the value of altcoins is questionable.