Federal Reserve, big news!!! What impact will it have on Bitcoin?
According to the latest news, Federal Reserve Board member Adrienne Kugler expressed "strong" support for a 50 basis point rate cut. She feels that if inflation continues to make good progress, she will support further rate cuts.
In terms of market expectations, the probability of a 25 basis point cut in November is 40.8%, and the probability of a 50 basis point cut is 59.2%. The probability of a cumulative 50 basis point cut by December is 19.5%, the probability of a cumulative 75 basis point cut is 49.6%, and the probability of a cumulative 100 basis point cut is 30.9%.
The liquidity in the US market has been quite abundant recently. On Wednesday, the Fed's overnight reverse repurchase agreement (RRP) had a scale of US$416.193 billion, while the secured overnight financing rate (SOFR) remained at a relatively low level.
In the past week, Bitcoin's trend has also been boosted by countries such as the United States and China easing their currencies to cope with economic slowdowns. From a technical perspective, Bitcoin's current unilateral trend is not obvious, and it is still mainly oscillating and repairing within the key point range.
