Biden said that he expects the Fed to continue to cut interest rates. Biden's words are so exciting! He said that he expects the Fed to continue to cut interest rates, which undoubtedly gave the market a shot in the arm! What does the interest rate cut mean to the market? It means that funds are cheaper, and the liquidity of the market is about to explode!

The Fed's rate cut will also have a positive impact on the cryptocurrency market, such as Bitcoin. We know that cryptocurrencies are seen as a means of hedging against the depreciation of fiat currencies. Once the Fed cuts interest rates, the US dollar will weaken, and the investment demand for cryptocurrencies will rise. Funds will flow from traditional markets to crypto assets such as Bitcoin, pushing prices to new highs.

All in all, Biden's statement makes people full of expectations for the future! Once the Fed cuts interest rates, funds will surge in the market, major asset prices will benefit, and the global economy will be rejuvenated!

BlackRock has purchased 354,173 bitcoins worth $22.49 billion since January this year! This is undoubtedly a major event in the market, and it further proves that Bitcoin is becoming more and more popular among institutional investors. As the world's top asset management company, BlackRock's operation is not a simple "testing the waters", but a real optimism about the future development prospects of Bitcoin!

This news is undoubtedly a powerful "catalyst" for the market. Just think about it, such a large-scale capital inflow will bring a huge boost to the market! Bitcoin's recent performance is also very impressive, with the price staying above $63,000. With the increase in investment by giants such as BlackRock, Bitcoin is likely to break new heights in the future.

Moreover, let's not forget BlackRock's influence. As a leading global asset management company, every big move it makes will bring about a "catfish effect", attracting more institutions to follow suit. This will further expand the market demand for Bitcoin, and the price will naturally rise.

More importantly, BlackRock's large-scale purchase of Bitcoin is happening at a time when the global economy is facing uncertainty. Many institutions are looking for ways to hedge against inflation, and Bitcoin just meets this need. Therefore, it can be boldly predicted that more and more large investors may follow BlackRock's footsteps and enter the market in the future, further pushing up the market value of Bitcoin.

The U.S. spot Ethereum ETF had a net inflow of 23,600 coins yesterday, worth $62.5 million.

The U.S. spot Bitcoin ETF had a net inflow of 2,159 coins yesterday, worth $137 million.

Bitcoin: It closed with a small positive line yesterday. Although the increase was not large, it still remained in the rising channel, and the short-term bullish trend has not changed. The current price closed at 63,900. Although there is still a certain distance from the pressure level of 65,000, it has been tested continuously in the past few days, indicating that it is highly likely to attack 65,000.

Technically, MACD and KDJ are still in the bullish zone. Although the upward momentum has weakened, the overall market sentiment is still optimistic. RSI also remains around 72, indicating that there is still sufficient buying support for bulls. As long as the strong pressure level of 65,000 is broken, there will be more room for growth.

In addition, although the trading volume has decreased slightly, it is still at a relatively healthy level, indicating that there is no sign of large-scale withdrawal of major funds, and the market still has the opportunity to usher in a new round of rise. The 62,000 level below is a strong short-term support level. Even if it falls back to this level, there is still strong buying intervention.

In summary, the market sentiment is positive and the short-term upward trend is still stable. As long as it breaks through 65,000, the market is expected to continue to rise. Pressure reference: around 64,800; around 67,900;

Ethereum: It closed with a star line yesterday, indicating that the long and short sides are tied. There may be some consolidation in the short term, but this does not mean the end of the upward trend. The price currently closed at 2623, still standing above multiple moving averages, indicating that the market still has sufficient support and there is little pressure for a short-term correction.

From a technical perspective, although MACD shows that the momentum has weakened, the overall upward trend is still continuing. RSI is currently at 68.03, which is close to the overbought zone, but has not formed an obvious selling signal. The three lines of KDJ are gradually converging, which may indicate that short-term volatility will increase, but once it breaks through the strong pressure level of 2700, the market is expected to usher in new room for growth.

The trading volume has decreased slightly, but it remains in a healthy range, indicating that the market funds have not withdrawn in large quantities. The strong support level of 2590 below provides a solid defense for the bulls. As long as it stays above this support, the short-term correction will not destroy the overall upward trend.

In summary, although the market is temporarily in a wait-and-see mood, bulls are still expected to dominate the market. If it can break through the 2700 mark, it will open up new space for subsequent gains. Pressure reference: around 2868; around 3102;

Altcoins: Funds are still active, the overall increase is large, the capital market is gradually recovering, and the sector rotation is obvious. It is recommended to hold positions as the main operation now, do not operate frequently, avoid chasing ups and downs, and prevent being washed out by fund rotation.

Today's Fear Index: 59 (Greed) #加密市场反弹 #比特币盈利供应能否推动价格上涨？