Atlanta Fed President Bostic said on Wednesday that with inflation falling further and unemployment rising more than he expected, it may be time to take action to cut interest rates, but he still hopes to see more data supporting rate cuts before pulling the trigger.

The Fed's rate cut/rate hike policy is relatively cautious, and it will refer to more data before making a decision on whether to cut interest rates, such as non-farm payrolls, PCE, CPI and other data.

More and more data have shown that the possibility of a rate cut in September is very high. Once the rate cut occurs, it will benefit the risk market, including the cryptocurrency market. This year, the internal innovation of the crypto market lacks narratives and is basically driven by these external policies.

However, the call for a rate cut in September has been going on for several months, and this expected positive market has already been partially redeemed. Even if the rate cut occurs in September, the crypto market will begin to fall after the positive is realized, but the current price of BTC at $59,000 is worth buying.