Powell promised to cut interest rates in September, Bitcoin fell instead of rising
Original title: "Powell accompanies rate cut in September, US stocks surge, Bitcoin falls to 64K"
Original author: Florence, Chain News
The US Federal Reserve announced that it would maintain the benchmark interest rate at 5.25% to 5.5%, but Chairman Powell released dovish remarks about a possible rate cut in September at the press conference after the meeting. US stocks surged across the board, with the SP 500 up 1.58% and Nasdaq up 2.64% led by tech stocks such as Nvidia and TSMC. However, Bitcoin once again went its own way, falling from above 66K after the press conference to $64,783 before press time, a 24-hour drop of nearly 2%.
Powell: Rate Cut Possible in September
The Federal Reserve kept interest rates unchanged at the end of its policy meeting on Wednesday, noting that "some further progress" had been made in bringing inflation down to the central bank's 2% target.
Fed Chairman Powell said at a press conference after the meeting that while the meeting had not yet made any decisions on future actions, a rate cut could be implemented as early as September if economic data showed slowing inflation.
"If this test is passed, our policy rate could be lowered as soon as our next meeting in September."
CME's FedWatch shows that traders expect three rate meetings before the end of the year to have a one-point rate cut each.
US stocks rose across the board, Bitcoin fell to 64K
Affected by Powell's dovish remarks on possible rate cuts, US stocks rose across the board, with the SP 500 up 1.58%, and Nasdaq up 2.64% led by technology stocks such as Nvidia and TSMC.
However, Bitcoin did not rise with the US stock market. Instead, it fell from above 66K after the press conference, and was reported at 64,783 US dollars before the deadline, a 24-hour drop of nearly 2%.
Yesterday, the mini version of the Grayscale Bitcoin Fund BTC, which was split from Grayscale GBTC, was officially listed, and the market did not see the outflow of GBTC.
7/30 The actual opening time of the nine Ethereum spot ETFs came to the sixth day, and the daily inflow finally turned from negative to positive for the first time, achieving the first net inflow, with a total amount of US$33.7 million. The reason is believed to be the slowdown of the huge outflow of Grayscale ETHE. At the same time, the investment director of BlackRock pointed out that some investment banks are studying the inclusion of Ethereum ETFs in their investment portfolios.
ETH's trend is similar to BTC. After the press conference, it fell from above 3,300 and was reported at 3,232 US dollars before press time.
Original link
欢迎加入律动 BlockBeats 官方社群:
Telegram 订阅群: https://t.me/theblockbeats
Telegram 交流群: https://t.me/BlockBeats_App
Twitter 官方账号: https://twitter.com/BlockBeatsAsia
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XLMUSD ,ETCUSD now launched for futures trading
Invest $30K Today, Get $705K at Listing? Arctic Pablo’s Avalon Stage Could Make You Rich While Fartboy and Daddy Tate Also Surging
Explore Arctic Pablo Coin’s epic meme coin presale at $0.00034 with 2252.94% ROI, plus latest updates on Fartboy & Daddy Tate. Don’t miss this crypto trio!Arctic Pablo Coin’s Legendary Path: A Meme Coin Presale Blending Myth with MoonshotsFartboy Rallies Meme Army with Twitter Battle and Celebrity TagDaddy Tate Fires Up Chart as Burn Rate Spikes Ahead of July HalvingFinal Verdict: The Wealth Path Begins with Arctic Pablo Coin

SEC Delays Ruling on Franklin Templeton XRP ETF 🚨
SEC pushes decision on Franklin Templeton spot XRP ETF to July 22, opening a comment period. Major delay sparks fresh debate.What’s the Update on Franklin Templeton’s XRP ETF?Why the Delay MattersWhat Happens Next

Dogecoin Eyes $0.65 in Bullish Breakout
Dogecoin shows strong bullish signs with a potential rally toward $0.6533 and even $1.25 in sight.Price Targets: $0.6533 First, Then $1.25?What’s Fueling the Optimism?

Trending news
MoreCrypto prices
More








