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$BTC Jerome Powell, president of the FED, yesterday launched a long-awaited message: possible interest rate cuts in September. Although yesterday the rates were left the same as they were (5.25% to 5.50%): and the crypto market did not take it very well and fell.
Although he avoided explicitly committing to a rate cut, his words suggested a tilt toward looser monetary policy. “We are approaching the time to consider a rate cut,” Powell said, a statement that markets interpreted as a positive signal: in fact, the stock market had a more than positive reaction.
Powell's carefully calibrated message has generated a far from positive impact on Bitcoin, so far. But, theoretically, it has established the foundations for a potential bullish scenario in the short and medium term.
The United States Government has almost $14 billion in different cryptocurrencies
The Fed Chairman also revealed that the Federal Open Market Committee (FOMC) had a real discussion on the case for cutting rates at this meeting. This admission indicates that the central bank is seriously considering a change in its monetary policy, which could have significant implications for Bitcoin and other digital assets.
Immediate impact on Bitcoin, the Bitcoin market's initial reaction to Powell's speech was bearish.

Investor Caution: Given the historical volatility of Bitcoin, many investors opted for a cautious approach, avoiding sudden movements based solely on Powell's words: do they prefer to wait until the date (September) approaches?
Technical factors: The price of Bitcoin was close to an important technical resistance, which could have stopped a more pronounced bullish momentum and decided, supported by speculators, to give in and not act in a predictable way.

#Binance today July 31, 2024 #BTC falls 3.08% valuing around 64,024, #BTC is the world's first decentralized cryptocurrency, a type of digital asset that uses public key cryptography to record, sign and send transactions over the chain. Bitcoin blocks.

The Bitcoin network (with a capital “B”) was launched in January 2009 by an anonymous computer programmer or group of programmers under the pseudonym “Satoshi Nakamoto”.

Each Bitcoin is made up of 100 million satoshis (the smallest units of Bitcoin), making each Bitcoin divisible to eight decimal places. That means anyone can buy a fraction of Bitcoin with as little as one US dollar.

For today, Wednesday, July 31, 2024. The price of the cryptocurrency Bitcoin Cash and the euro this Tuesday is 478.5 euros. Based on this price, the variation of said digital asset compared to the last day is 0.25%.

In recent days, the price of Bitcoin Cash has seen a positive trend, while the euro has shown a stable trend. This indicates that the value of Bitcoin Cash has increased in recent days, while the euro has maintained its value relatively constant.