Market Overview
$BTC : $62,192
$ETH : $2,440
Fear/Greed Index: 49 (neutral)
$BTC.D (Bitcoin Dominance): 58.31%
đŒ After the Fed rate cut, the market responded as expected with an upward move, but it's still too early to say the downtrend is broken. According to the 4-hour chart, the price needs to hold above 65k for us to talk about a full reversal.
đ Former BitMEX CEO Arthur Hayes believes the Fed's rate cut was likely politically motivated and could impact both markets and inflation.
I believe that theyâre trying to get markets to go even higher, to make people feel even wealthier as they go into the ballot box in November, and inflation is going to accelerate after this point.
Hayes said.
In his opinion, the Democratic Party is using this move to gain more votes in favor of Kamala Harris.
#cryptomarket #cryptonews #FedRateDecisions #uselections #bitmax
