The crypto market is quite dull. BTC fell again today from around $58,000 to as low as $55,606. ETH also fell from around $2,500 to around $2,300. Altcoins also fell due to the performance of the market. In the past 24 hours, the entire network had a liquidation of $196 million, of which long orders had a liquidation of $172 million!
If interest rates rise again, Bitcoin will usher in a major correction! The current policy uncertainty of the Federal Reserve has a particularly significant impact on the cryptocurrency market! Bitcoin price has become one of the most sensitive indicators of U.S. dollar liquidity conditions. Between the Federal Reserve’s interest rate policy and the Treasury Department’s liquidity operations, the price fluctuations of cryptoassets such as Bitcoin show deep linkage with traditional financial markets.
With the Federal Reserve likely to cut interest rates again in 2024, market concerns about U.S. Treasury yields have increased, which will make investors pay more attention to the impact of U.S. dollar liquidity on the price of crypto assets. If interest rates rise again and market liquidity tightens, Bitcoin and other cryptocurrencies may face a new round of price corrections. Once the U.S. Treasury Department sends a signal of increased liquidity, the cryptocurrency market may usher in a new opportunity for growth. Especially as global central bank policies continue to swing, crypto assets are expected to become the main choice for investors seeking hedging and risk aversion. Although Bitcoin prices may fluctuate due to liquidity tightening in the short term, in the long run, as liquidity is injected back into the market, the bull market in cryptocurrencies is expected to restart. The Federal Reserve's interest rate decision may boost Bitcoin briefly On September 19, the Federal Reserve will officially announce its interest rate decision. The Federal Reserve's interest rate decision this month may have a significant impact on Bitcoin's short-term volatility and long-term trend. Analysts said: A 25 basis point rate cut may herald the beginning of a typical easing cycle, while a more aggressive 50 basis point rate cut may cause Bitcoin prices to surge immediately, but as recession concerns intensify, a pullback may follow.
The altcoin season has not yet arrived. If you bought altcoins from October last year and have not sold them, then you have probably lost all your profits. If you bought altcoins after March this year and still hold them, then you may be deeply locked up. The crypto market has continued to fall under the influence of profit-taking and the lack of hot narratives. In the final analysis, market liquidity is still very scarce. #加密市场急跌 #非农就业数据即将公布 #BTC走势分析 #美联储何时降息？ #BNBChainMemeCoin $BTC
