Since Bitcoin hit an all-time high of $73,000 in March this year, its subsequent trend has indeed been weak. The market has experienced a series of fluctuations and pullbacks, which to a certain extent affected everyone's confidence and enthusiasm, and triggered widespread discussions on whether Bitcoin can regain its glory in the future. However, in the current global economic context, especially considering the upcoming interest rate cut cycle of the Federal Reserve System (Fed), we may be more optimistic about the future of Bitcoin and the cryptocurrency market.

The recent dovish remarks made by Federal Reserve Chairman Powell clearly pointed to the necessity and urgency of interest rate cuts. This signal not only injected a shot in the arm for the stock market, but also brought positive expectations to the cryptocurrency market. Although the number of interest rate meetings remaining this year is limited, the market generally expects that the interest rate cut policy will continue in 2024, which will greatly promote the increase of global liquidity.

Liquidity is the most important driving force of the financial market. As the money supply increases worldwide, people tend to seek higher-yield investment channels. Against this background, Bitcoin is expected to attract more capital inflows.

Therefore, for the current turmoil in the cryptocurrency market such as BTC and ETH, everyone can remain patient and adopt a flexible investment strategy. Recently, short-term trading is still the main focus.

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