10.10 Market Analysis
The minutes of the Fed meeting released this morning showed that the sharp interest rate cut was not a concern for the economy, nor was it a signal of a rapid interest rate cut. The minutes showed that the vast majority of members supported a 50 basis point interest rate cut. Since the release of the Fed meeting minutes, the possibility of no interest rate cut in November has risen to 29.6%.
BTC has been fluctuating in a narrow range yesterday afternoon. From 12:00 p.m. to the close of the U.S. stock market, it fell by $2,000, reaching a low of around $60,200. It has now rebounded to around $60,800. The current price has not broken through the starting point of the sharp drop after the close of the U.S. stock market last night. The CPI data will be released at 8:30 tonight. Judging from the non-agricultural data released last week, tonight's data may be bullish for the U.S. dollar. Excluding the impact of the news, BTC's fluctuation range before the release of CPI is between 60,000 and 62,000. In terms of operation, try to focus on low and long positions. The entry point for long orders is recommended to be 60,400, the stop profit is 61,000, and the stop loss point is 59,800.
ETH outperformed BTC last night. After the opening of the U.S. stock market, it formed a double top structure with yesterday morning, and then began to fall rapidly, with the lowest adjustment to around 2350. It has now rebounded to around 2390. Excluding the impact of news, ETH's fluctuation range before the release of CPI is 2330-2440. In terms of operation, it is recommended to focus on low and long positions. The entry point for long orders is 2370, the take-profit point is 2400, and the stop-loss point is 2340.$BTC