The Fed directly cut interest rates by 50 basis points, and there is still a 30% chance of another 50 basis point cut at the November interest rate meeting. This is a big step.
Many institutions on Wall Street have always believed that it will only be cut by 25 basis points. Historically, a 50 basis point interest rate cut has only occurred three times, usually in times of economic or market emergency:
The technology bubble in January 2001, the financial crisis in September 2007, the epidemic in March 2020...
The price of $62,000 is a critical position. Only when it stands firm can it continue to rise. It is recommended to wait until the trend is confirmed before doing it.
