At 2:00 a.m. Thursday, the Federal Reserve will announce the results of its interest rate decision. At 2:30 a.m., Powell will hold a press conference. Currently, the market expects a 63% chance of a 50 basis point rate cut and a 37% chance of a 25 basis point rate cut. Will the Federal Reserve change direction? At the opening of Wednesday, the Nasdaq and gold both traded sideways, awaiting the results of the interest rate meeting.
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BlackRock is preparing to launch an artificial intelligence investment fund of more than $30 billion in partnership with technology giant Microsoft to build data centers and energy projects to cope with the growing demand brought by artificial intelligence, which will become one of the largest investment tools ever on Wall Street. Fast-growing chipmaker Nvidia will provide advice on factory design and integration. Members of the U.S. House of Representatives said they want to know clearly how the U.S. Securities and Exchange Commission (SEC) views airdrop activities in the crypto industry. In a letter to SEC Director Gary Gensler on Tuesday, Patrick McHenry, head of the U.S. House Financial Services Committee and North Carolina Congressman, and Tom Emmer, Minnesota Congressman, the House Majority Whip, accused the SEC of "pressing its finger on the scale" and that by creating a hostile regulatory environment, including expressing opinions on airdrops in various cases and increasing warnings of further enforcement actions, the SEC is "pressing its finger on the scale and preventing American citizens from shaping the next version of the Internet." JPMorgan Chase CEO Jamie Dimon said that JPMorgan Chase may be one of the main users of blockchain and a real user. Bloomberg reported that crypto venture capital firm DragonflyCapital is seeking to raise $500 million for its fourth fund and plans to complete the financing in the first quarter of next year. Cointelegraph reported that Google Cloud plans to expand its blockchain RPC service from ETH to more blockchains. The Financial Times reported that SIX Swiss Exchange, Switzerland's largest stock exchange, is exploring the establishment of a cryptocurrency trading platform in Europe to attract large traditional investors with increased interest in trading digital assets.
According to Ultrasoundmoney data, the net supply of ETH has increased by 15,481 ETH in the past 7 days, and the supply growth rate is currently 0.671% per year. Anthony Scaramucci, founder of the hedge fund Sky Bridge, said that the Federal Reserve may cut interest rates by 50 basis points tonight, which is part of a cumulative interest rate cut of at least 150 basis points in the next 18 months, which is good for asset prices in the United States and the world. Driven by a series of interest rate cuts by the Federal Reserve and clearer US cryptocurrency regulation, BTC will hit a record high of $100,000 by the end of the year, and the US Congress will pass some legislation supporting cryptocurrencies and stablecoins in the early stages of its term. BitMEX co-founder Arthur Hayes said: The main argument for ETH is that it is an Internet bond. If the yield on US Treasury bonds drops rapidly (below 4%), then ETH becomes profitable, the Federal Reserve will cut interest rates, the market will collapse, and then reignite the bull market. On September 17, the ETH spot ETF had a total net outflow of $15.114 million, with a historical cumulative net outflow of $606 million; the BTC spot ETF had a total net inflow of $187 million, with a historical cumulative net inflow of $17.497 billion. MicroStrategy said it would increase the convertible preferred note fundraising amount to $875 million, which is expected to be completed on September 19, 2024. Previously, MicroStrategy increased its holdings of $1.11 billion in BTC on September 13. At 2:00 a.m. on Thursday, the Federal Reserve will announce the results of its interest rate decision, and Powell will hold a press conference at 2:30. The market currently expects a 63% probability of a 50 basis point rate cut and a 37% probability of a 25 basis point rate cut. Commerzbank analyzed that the Fed's small first step does not rule out future big moves. The current risk tends to be a weak dollar. The market expects the Fed's first major rate cut to be slightly more than 50%, and the bank's economists still expect a 25 basis point rate cut. Former New York Fed head William Dudley reiterated his support for a 50 basis point rate cut, and three senators urged the Fed to aggressively lower its benchmark rate, including a 75 basis point cut this week, to protect the economy from potential damage.
Steve Englander, head of macro strategy at Standard Chartered Bank, said that recent US economic data did not provide a convincing reason for a 50 basis point rate cut at the upcoming interest rate meeting. Goldman Sachs expects the Fed to cut interest rates by 25 basis points and cut interest rates five times or more next year, and the market can still regard it as a faster return to neutral levels. Goldman Sachs expects the S&P 500 index to rise to 6,000 points in the next 12 months (currently 5,630 points). Fitch: It is expected to cut interest rates by 25bp in September and December, and 125 basis points and 75 basis points in 2025 and 2026 respectively. Economist Gregory Daco said that if the economy or the labor market is excessively weak, the Fed is ready to ease monetary policy by more than 25 basis points, thus opening the door to larger interest rate cuts in November and December. It is difficult for an inflation rate below 3% and a monetary policy rate above 5% to coexist, so it is necessary for the Federal Reserve to implement some monetary easing policies. At the interest rate meeting on Thursday, the Federal Reserve is expected to take the first positive step, shifting from the past four years of tightening history to the next period of monetary easing history. The Matrixport report pointed out that BTC's recent upward trend indicates that this month's performance may be better than expected. Driven by the possible interest rate cuts in the United States and the strong stock market, BTC is expected to exceed expectations. Since October has always been a strong month for BTC, the market may take advantage of the September correction to lay out potential opportunities in the fourth quarter. On Wednesday, Bitcoin went up and down between $61,000 and $59,000. For the currency market, the interest rate cut will have a short-term positive realization and a negative worry, and a long-term bull market pusher. The Federal Reserve has taken the first positive step. The subsequent multiple interest rate meetings will be continuous interest rate cuts, which will be a positive stimulus to the currency market. In the bull market, Bitcoin is fighting for its dignity. #美联储宣布降息50个基点 #美联储利率决议公布在即 #token2049
