Former Cleveland Federal Reserve Chair, hawkish Mester recently stated that due to the different economic policies that may come with Trump's presidency, the Fed may not lower interest rates as many times next year as the market previously expected in September. (Background: Arthur Hayes' new perspective: Trump's presidency will usher in infinite QE, Bitcoin is expected to reach 1 million dollars) (Background information: Powell hardens: Trump won't resign under pressure, the election won't affect the Fed's interest rate decisions, but is there a change in the December rate cut?) Benefiting from Trump's victory in the US presidential election, the cryptocurrency market has recently welcomed a wave of celebratory momentum, with Bitcoin soaring since November 5, repeatedly setting new historical highs before nearing the 90,000 dollar mark yesterday (12). Former Fed hawk: Rate cuts may be reduced in 2025 In addition to Trump's election potentially bringing a more relaxed regulatory environment for the cryptocurrency industry, another major catalyst for this bull market is the rate-cutting cycle initiated by the US Federal Reserve at the end of September. However, former Cleveland Fed Chair, hawk Mester recently stated that due to the different economic policies that may come with Trump’s presidency, the Fed may not lower interest rates as many times next year as the market previously expected in September: Next year, the pace of rate cuts will be influenced by Trump's fiscal policies. This is not good news for risk markets. Additionally, according to the CME FedWatch tool, the market’s expectation for the Fed to cut rates by 25 basis points in December has significantly decreased from 84.4% a month ago to 55.2%, while the probability of pausing rate cuts in December and maintaining the interest rate in the 4.75% to 5% range has increased from 15% a month ago to 44.8%; at the same time, no one expects the Fed to make a large 50 basis points rate cut. US stock indices all fell Perhaps influenced by changes in Fed rate cut expectations, and investors taking profits from the rebound after the US presidential election, all four major US stock indices fell: The Dow Jones Industrial Average fell by 382.15 points or 0.86%, closing at 43,910.98 points The S&P 500 Index fell by 17.36 points or 0.29%, closing at 5,983.99 points The Nasdaq Index fell by 17.36 points or 0.09%, closing at 19,281.4 points The Philadelphia Semiconductor Index fell by 47.75 points or 0.93%, closing at 5,108.64 points Bitcoin fell below 88,000 dollars Meanwhile, Bitcoin encountered a drop around 20:00 last night, hitting a low of 85,091 dollars, but subsequently quickly rebounded to challenge the 90,000 dollars mark, unfortunately failing to succeed and retreating, currently reported at 87,904 dollars, down 0.74% in nearly 24 hours. However, regarding the market's pullback, Fairlead Strategies technical analyst Katie Stockton recently stated in a report: It is normal for a period of market digestion to occur after such a sharp rise, and investors can adopt a neutral preference strategy in the short term. Related reports CZ: If you believe the statements 'Bitcoin is dead', you can only blame yourself.. BTC knocking on the 90,000 dollar door Disaster! FTX Bitcoin users can only recover 18% (calculated at 16,000 dollars), the current situation and claim progress two weeks after bankruptcy? Bitcoin breaks through 79,700 dollars 'knocking on the 80,000 dollars'! MicroStrategy's BTC floating profit exceeds 10 billion dollars "Bitcoin's challenge to 90,000 fails 'drops below 88,000 dollars', former Fed hawk: Rate cuts may decrease after Trump takes office, US stocks all fall" This article was first published on BlockTempo (the most influential blockchain news media).

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