Bitcoin finally ended the week in an uptrend.
Markets performed exceptionally strongly, with Bitcoin in particular standing out. Bitcoin prices hit $60,000 today, boosted by U.S. PPI data and the Fed’s rate cut. Institutional BTC purchases also boosted momentum.
Ethereum (ETH) continues to underperform, as highlighted on the ETH/BTC chart. The daily chart shows that the bearish momentum in the ETH/BTC pair shows no signs of slowing down, suggesting that it may struggle to keep up with Bitcoin in the short term.
Compared with Ethereum and Sol, the market's growth rate will be better, which also shows that the market is still the only target of the main force in the near future, and the rest can only wait for the main funds to go to other sectors.
The real resistance above the market is around 62,800. When this position is broken and stabilized, it will truly start a major counterattack at the daily level and lead the crypto market to rise again.
The interest rate cut is a long-term positive for the market. In the short term, it can rise or fall, regardless of whether the positive effect is implemented and the market is adjusted back or not, regardless of whether the first interest rate cut leads to a sharp rise or not. Short-term fluctuations cannot interfere with my view on the general trend, which is a spiral upward.
From the overall trend, the market is still in a bull market and is expected to hit a record high. Especially for those altcoins, most of them are currently at the bottom of the weekly level and are ready to break through at any time. Once these altcoins successfully break through, it will trigger a round of super-large-scale rising market.
The Federal Reserve will cut interest rates by 25 basis points next week on September 18.
1. Inflation has declined
2. Non-agricultural employment has increased
3. CPI is also in line with expectations
This shows that the US economy is still strong. In order to further boost the economy, stimulate consumption and expand employment, interest rates will inevitably be cut in September. However, in the absence of a recession, the probability of a direct 50 basis point rate cut is relatively small. Therefore, the first rate cut is likely to be 25 basis points.
About the election
At present, the crypto market, led by Bitcoin, has risen to trillions of dollars. It has entered the mainstream vision from the so-called alternative assets and is no longer on the edge. Bitcoin is also increasingly affected by macro factors, including market liquidity, interest rate cuts and increases by the Federal Reserve, and the US election.
When the Federal Reserve cuts interest rates and global capital liquidity increases significantly, BTC prices continue to rise. Macro liquidity still plays a decisive role in the crypto market.
In addition, in recent months, the non-farm payrolls and CPI data, which are of great reference value to the Fed’s interest rate cut decision, often cause considerable volatility in the crypto market in the short term once released. BTC is currently becoming increasingly linked to the macro-financial market.
In addition to those mainstream value coins, the following currencies can be paid special attention to and invested in!
Bitcoin Ecosystem: ORDI, SATS
Ethereum Series: SSV
Binance Series: CAKE
RWA Section: OM
Game section: YGG
AI sector: FET
Lending section: AAVE
Meme coin: PEPE
Wealth code:
» $LAMB
Recently, the growth of small-cap coins has been relatively high. You can pay attention to LAMB on OK. Binance contract voting ranking is very high, and there is a good hope to be listed on BN. Currently, you can ambush the spot on OK and wait for subsequent positive news to explode.
» $Sun
Sol's annual developer conference will be held on September 20. It's held once a year. There are 6 days left. Let's see if there is any hype or good news.
The project team always announces important updates at the conference, which is very exciting. I dare not say that it will definitely soar, but the probability of rising is really high, so you can give it a try. In addition, Sol’s current price has indeed adjusted a lot, so even without these positive factors, it is worth ambush, and the profit and loss ratio is still very cost-effective.
$WIF
As an emerging memecoin in the Solana ecosystem, WIF has attracted much attention for its unique dog-themed community. Internet culture and memecoin hit it off, and WIF has emerged in this trend.
With strong technical support and community power, WIF is expected to become a star token in the market cycle. With the endorsement of Solana technology, WIF has demonstrated the potential to explode in this round of market cycle.
$TREES
In the Solana ecosystem, BOME has emerged with its low-key and powerful strength. Although the price did not fluctuate much in the early stage of its launch, the strong support and market consensus behind it indicate its huge potential in the future.
Once the trading volume surges, BOME is expected to repeat the amazing growth similar to PEPE and become the focus of market attention.
