Important news notification for Bitcoin!
In view of the recent decline in Bitcoin, it can be basically considered that it is not an ideal hedging tool. The rising unemployment rate has led to people losing their jobs and they have to convert to modern currency, which is still untenable!
In the short term, there are factors such as the possibility of lower interest rates, the possibility of Trump's victory in the election, and the potential impact of the Harris government on cryptocurrency policy reform. The market is keenly evaluating the price of Bitcoin!
A few days before the Federal Reserve meeting on Thursday, Bitcoin fell from nearly $70,000, even if policymakers ultimately kept interest rates unchanged. The cryptocurrency market has already factored in the broader market downturn in advance. The current market has entered a risk-averse phase, and funds are looking for a safe haven. As ETFs and the regulatory environment mature, Bitcoin has become more mainstream in this category, but the volatility of tokens indicates that the signal is unreliable.
Overall, the liquidity of hot money in the market is not enough to support a full bull market, but it may be realized after a certain rate cut! 🚀
