BTC:
Current price: $62000, 24-hour change +2.6%
Trend: The Federal Reserve cut interest rates by 50 basis points, starting a easing cycle. Goldman Sachs: It is expected that the Federal Reserve will implement a 25 basis point interest rate cut at each meeting from November 2024 to June 2025.
Technical analysis: Bitcoin is affected by the favorable trend and will continue to rise in the short term. The current daily line has formed a three-day positive pattern, and the market strength is still rising. The 4H short-term upward strength has slowed down. It is expected that BTC will undergo a brief repair above $62,000 and continue to rise. Judging from the current overall trend, BTC should remain above $60,000. It is difficult to fall below this key position again. Of course, it is unlikely to see a rapid surge in the near future, but continued shocks upward are the trend.
ETH：
Current price: $2435, 24-hour change +4.39%
Technical side: Ethereum is currently in a short-term upward trend, with the daily line showing a series of positive patterns, and the 4H is also rising rapidly in the short term. Judging from the market, the upward trend will continue in the short term. The ETH market has been weak during this period, and the market strength has been weak. It depends on whether this wave of interest rate cuts can be used to restore market vitality. In fact, personally, I am still optimistic about Ethereum in this bull market, and perhaps ETH will be the main field in the future.
Mainstream currencies:
BNB: Current price: $557, 24-hour ups and downs +2%. BNB is currently in a linkage trend. CZ’s release from prison at the end of the month is a positive sign, and it may usher in a period of rising prices.
XRP: Current price: $0.584, 24-hour change +1%. Ripple's current market is still weak, and the short-term trend will continue to be mainly linked to the broader market.
SOL: Current price: $138, 24-hour increase or decrease of +5.5%. The current market of SOL has also begun to strengthen, and it should continue to rise in the near future.
DOGE: Current price: $0.1013, 24-hour change +2.5%. The current market of DOGE is still weak. Judging from the market, there will not be a big increase in the short term, but those who hold it can continue to hold it, because DOGE will either not rise, or once it starts to rise, it will be a relatively large increase.
BCH: Current price: $345, 24-hour increase or decrease of +9.8%. BCH also saw a sharp rise during the day, but the short-term market strength has weakened. In the short term, it should fluctuate and repair.
AR: Current price: $19.9, up or down 7.7% in 24 hours. AR has been in a consolidation period of nearly 20 days, and it is almost over now. There should be demand for further increases in the near future.
UNI: Current price: $6.8, 24-hour increase or decrease +3.3%. UNI’s current market strength is relatively weak, and the overall trend is mainly linked to the broader market.
ARB: Current price: $0.55, 24-hour change +5.9%. The current market of ARB is mainly linked to Ethereum. If Ethereum keeps rising, ARB should also have room for a period of linked rise.
OP: Current price: $1.58, 24-hour change +8.4%. OP has started an upward trend in the short term, and the overall trend is mainly linked. If the market trend continues, OP will have room to continue to rise.
