The Federal Reserve meeting raises market concerns, cryptocurrency market collectively declines

Today, the cryptocurrency market generally fell, mainly due to investors' growing cautious sentiment regarding the Federal Reserve's interest rate meeting. This meeting not only focused on the expectation of a 25 basis point rate cut but also concentrated on the update of the dot plot and Powell's speech content.

Shadow of high interest rates looms, market sentiment cools

From expectations, the Federal Reserve may only implement 2-4 rate cuts in 2025, indicating that interest rates will remain high. In this environment, the risk of black swan events increases, while the delay of easing policies triggers investors' risk-averse behaviors. The backdrop of high interest rates suppresses the market's risk appetite, and the cryptocurrency market is no exception.

Bank of Japan's rate decision may become a barometer

Another focus today is whether the Bank of Japan will raise interest rates. Although the market believes the likelihood of a rate hike is low, any unexpected event during this sensitive period could trigger market volatility. Investors' demand for risk aversion amidst uncertainty further dampens the performance of digital assets.

Musk's concept coin Puppies continues to gain traction

Despite the overall pressure on the market, the Dogecoin Puppies, favored by Dao Ge, remains hot. Recent news indicates that Puppies may undergo significant developments, igniting enthusiasm in the market. Investors who like Musk might want to keep a close eye, as they may discover new opportunities amidst the storm.

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