After reaching the support level of 64500, the price of Bitcoin remained volatile and rebounded last night.

The retail sales in the United States in May announced yesterday increased by 0.1% month-on-month, lower than the market expectation of 0.3%, and the previous value was revised down from 0% to -0.2%. Recently, Fed officials have expressed their intention to cut interest rates only once in 2024. The US CPI in May announced last week rose by 3.3% year-on-year, lower than expectations and the previous value. However, the dot plot of the June interest rate meeting showed that Fed officials' expectations for interest rate cuts this year have been reduced to one. Fed Chairman Powell said at a press conference that inflation has slowed substantially, but it is still too high. The inflation data so far this year is not enough to give the Fed confidence in cutting interest rates. At the same time, he reiterated that "no one regards raising interest rates as a basic expectation." The meeting was not greatly affected by the inflation data before the meeting. We need to see that the continuous decline in inflation data may be enough to affect the Fed's statement. There are still multiple data to observe before the September interest rate meeting. The good news is that the current overall policy framework is still under the "looking for reasons to cut interest rates", and the overall trend of Bitcoin has not yet formed a large-scale short trend! Therefore, we still have to wait patiently for the expected market of subsequent interest rate cuts! #美联储何时降息？ #BTC走势分析