Today is September 19, 2024, Thursday. Bitcoin began to fall back near $60,000 before the opening of the U.S. stock market last night. It fell to a low of around $59,200 and then began to rebound. Then after the Federal Reserve announced a 50 basis point interest rate cut, it spiked upward to $61,300 and then began to fall back again. It fell to a low of around $59,500 and began to rebound. The highest point rebounded to around 62,500. As of now, the price is around 62,333. The short-term support for the day is $61,500 and the short-term pressure is $62,600.

When the U.S. stock market was about to open last night, Ethereum began to fall back near 2309, and then rebounded after reaching the lowest point near 2280. Then, after the Federal Reserve announced a 50 basis point rate cut, it began to rebound following Bitcoin. So far, the highest point has rebounded to around 2442. The current price is around 2431. The short-term support is 2370, and the pressure is 2470. Ethereum is currently in a short-term rising stage, with three consecutive positive lines on the daily line. During this period, Ethereum has been relatively weak, and the market strength has been relatively weak. It depends on whether this wave of rate cuts can be used to restore market vitality. I have always been optimistic about Ethereum in this bull market, and perhaps Ethereum will be the main field in the future.

Today, the cottage market also ushered in a wave of general rising prices following the broader market, and many have risen a bit, but whether the cottage market can continue is still a question. Next, everyone still needs to pay close attention to the linkage situation. If the big market no longer continues to break through, will the cottage market make up for the rise? Or if the big market goes sideways, will the cottage market fall again? And so on. These are all signals. If there is really a wave of market, the cottage market should not fall back so quickly after this wave. If it just pulls up with the broader market, the cottage market will most likely fall back when the big market falls back.

The Federal Reserve has already started cutting interest rates, which means the full start of a global interest rate cut cycle. A new economic cycle is about to come, which will have a huge impact on the financial industry, real estate, manufacturing, and encryption industry. It can be said that continued interest rate cuts will stimulate the comprehensive development of all industries. It is also a major positive for cryptocurrencies and can be said to be a catalyst for the start of a bull market.

The general direction of the market in the future is upward. As far as altcoins are concerned, the differentiation between the strong and the weak will become more and more obvious. This will test everyone's ability to select coins. You should buy altcoins with hype expectations, have sector awareness, follow the hot money, and when you get a wave, ambush the next hot spot that may explode and gradually increase your funds.

As the US starts to flood the market with money, I personally think that the time for the subsequent shock correction will become less and less. Hold on to the chips in your hands and buy at the bottom. I hope that the good market will continue for a while!