Brothers, the recent macro data is a bit stimulating, and the Fed may have a headache. The US CPI is higher than expected, showing that inflationary pressure has not eased, but the unemployment data has hit a new high since June this year, which is really a contradictory combination. This situation is simply a "nightmare" for the Fed, and they are under increasing pressure to continue to cut interest rates.
For Bitcoin, this is good news! Bitcoin is currently stable at around $60,600. CPI overshoot and employment issues have caused market turmoil, but this turmoil is beneficial to safe-haven assets like Bitcoin.
The expectations of interest rate cuts and quantitative easing have increased, further pushing up Bitcoin's advantages.
The market generally believes that the Fed is likely to cut interest rates by 0.25% at its November meeting, and the probability is as high as 87%. As long as Bitcoin can hold the key support levels of $60,600 and $59,650, we are still confident in the rebound in October.
Of course, selling pressure still exists, but as long as the support is not broken, we are still optimistic about the rise of Bitcoin in October, and the monthly rebound is expected to reach 23%.
During this period, Bitcoin is likely to rise strongly amid market turmoil. Be prepared and seize opportunities at any time!
