On October 10, let's take a look at the market in the cryptocurrency circle.
On the macro level, the Federal Reserve released the minutes of the meeting yesterday: a 50 basis point interest rate cut, which is said to make interest rates better aligned with the economy. Some participants are more inclined to cut interest rates by 25 basis points at the September meeting.
In terms of the market, BTC has returned to the support area of ââ60,000. It is still impossible to judge whether it is an effective support. This position needs to be tested again.
BTC has been falling for almost half a month after encountering resistance at 65,000. In particular, the S&P 500 has been quite strong in the past half month, but BTC has a trend of weakening independently, which is related to the overall lack of market demand.
This shows that the selling pressure from the United States has increased, and domestic funds have been sucked away by A shares. The overall capital situation is not very good.
However, there is no problem with the large-scale structure. The high-level shock consolidation requires a catalyst that can stimulate demand. At present, the biggest catalyst expectation may be Trump's victory.
Market data: Fear Greed Index 39.
