Things are not going well! The Fed may not cut interest rates this year. The test results of US banks are revealed. Is Bitcoin hanging this year?
At 4:30 am today, the Federal Reserve announced the results of its annual banking stress test, confirming that all large US commercial banks have successfully passed the test.
This result shows that the current high interest rate environment has not caused a serious impact on the banking industry, but has provided more room for operation for US fiscal policy.
First, let me explain what "bank stress test" is? This originated in 2010. The purpose is to assess the risk resistance of the banking industry under extreme economic conditions, simulate a severe economic recession, and test whether banks have enough capital to maintain operations and continue to provide credit support to the real economy.
Especially after the Silicon Valley Bank incident, US regulators have taken a series of measures to stabilize the financial system. The test results this time are strong, so there is more room for monetary policy.
If the interest rate cut fails, it may mean that the global financial market will continue to face a strong dollar, which is another bad news for Bitcoin.
Coinbase's stock price has also been falling for two consecutive weeks. Bitcoin has been hovering around $60,000 this week, anxiously choosing a direction. Once it falls below $58,000, it may go further down.
Don't fill your position, don't rush to buy at the bottom, have some cash in hand, and then make a move when the market is extremely panic!
