After U.S. Federal Reserve Chairman Jerome Powell hinted at the Jackson Hole Economic Forum on Friday that the time was ripe for a rate cut, the crypto market ushered in a new wave of gains, and Bitcoin prices fell from the lows before Powell's speech. US$60,691 has been rising all the way, and it continued to fluctuate around the US$64,000 level for two days over the weekend.
Selling pressure emerged after briefly exceeding US$65,000 at around 7 o'clock this morning (26th). The current price is US$63,896, a slight decrease of 0.28% in the past 24 hours. At present, if it fails to stand above $63,500, there may be a major correction, so investors are advised to be cautious.
Ethereum briefly exceeded $2,800
The trend of Ethereum is similar to that of Bitcoin. It once exceeded US$2,800 on Sunday. The author is currently testing whether it can stand above US$2,700. It is currently trading at US$2,743, down 0.64% in the past 24 hours.
Key economic events this week
Second quarter GDP revision, US PCE price index
The revised value of U.S. second-quarter GDP will be released on the evening of Thursday (29th) Taiwan time, followed by the U.S. inflation data PCE price index the next day (30th). You can examine whether there are signs of recession in the U.S. economy and the inflation data. Whether the temperature continues to drop.
It will provide an important reference for Fed policymakers to decide on the extent of interest rate cuts in September and in the future.
