The Fed unexpectedly cut interest rates by 50 basis points
The price of Bitcoin soared to 62,000 after the US stock market closed
The US finally couldn't hold on and began to cut interest rates. At 2 a.m., Powell announced that the Fed would cut interest rates by 50 basis points, not the expected 25. The first rate cut was so big, which was really unexpected. Gold, BTC, and US stock indexes all rose after the announcement, and then fell.
However, BTC soared to over 62,000 US dollars after the US stock market closed. The US economy is indeed in recession, otherwise the first rate cut would not have been so big. The old abalone is still stubbornly saying that the economy has a soft landing, but the actual actions have betrayed him. From the dot chart, the Fed will cut interest rates by 50 basis points in the next two months, which means that the interest rate will be cut by 50 basis points in one month of November and December, and remain unchanged in the other month, or the interest rate will be cut by 25 basis points in both months.
Today's market analysis: From the K-line, the 1-hour level is an upward trend, but it has been obviously blocked and is about to go sideways or fall. The 4-hour, 12-hour, and daily levels are upward trends. The intraday pressure level is 63500 and the support level is 60400. Today is Friday again. The fluctuation will be very large at night. Be sure to pay attention to the risks.
