On Friday, October 18, the U.S. Treasury Department announced that the U.S. federal government's fiscal deficit reached $1.833 trillion in the fiscal year ending September 30, 2024, the third highest on record, second only to the 2020 and 2021 fiscal years during the COVID-19 pandemic.

The net interest expenditure on debt this fiscal year is $882 billion, an average of about $2.4 billion a day, accounting for 3.06% of U.S. GDP, the highest proportion since 1996. This means that the U.S. debt interest burden has climbed to its highest level since 1996.

According to official U.S. data, the U.S. net interest expenditure this fiscal year exceeded the $874 billion in defense spending for the first time, and interest accounted for about 18% of federal revenue, almost twice as much as two years ago.

After the Fed cut interest rates, the stock price continued to rise for six consecutive weeks, and the economy also ushered in a strong recovery. The U.S. dollar returned to its position before the rate cut, and the probability of Trump's election has reached 60%. Previously, the Federal Reserve and the data revision, Trump was quite dissatisfied with the Federal Reserve for cutting interest rates by 50 basis points, so it is difficult to predict whether the remaining 50 basis points of interest rate cuts can be implemented in November.

But for the crypto market, Trump's inauguration must be better news than a rate cut, so even if there is no rate cut, there is no need for us to panic because of the rate cut for the crypto market. It may even break through the previous high of 73,000 this year, but the current situation is still strong, so we continue to be bullish, and we will wait for the opportunity to escape the top before the inauguration. #BTC要挑战7W大关了吗？ #特朗普家族加密项目 #BTC重返6W9 #美股连涨六周 $BTC $ETH