The day before the Federal Reserve’s interest rate decision, the crypto market generally rose.
Bitcoin surged to $61,000 on Tuesday, its biggest intraday gain since August 8. Mainstream currencies such as Ethereum, Dogecoin and Solana also rose, with gains between 2% and 4%. As of press time, the trading price fell back to around $60,142, a 24-hour increase of nearly 4%.
In terms of Altcoin, most of the top 200 tokens by market capitalization saw gains, with Dymension (DYM) seeing the largest increase, up 24.1%, followed by Immutable (IMX) and Celestia (TIA), both up 15.6%.
The current overall market value of cryptocurrencies is $2.08 trillion, and Bitcoin’s market share is 57.1%.
The big suspense of the Federal Reserve is about to be revealed
The Federal Reserve will announce its interest rate decision at 2:00 a.m. Beijing time on Thursday, and Federal Reserve Chairman Powell will hold a press conference at 2:30 a.m.
Nick Timiraos of the "New Fed News Agency" has published another article, which may be his last article before the Fed's decision. Judging from the title "Fed prepares to cut interest rates, the extent of the first rate cut is in doubt", the "extent of the first rate cut" is still undecided.
If this article was written at the behest of the Federal Reserve, there is a high probability that the interest rate will be cut by 50 basis points.
Here are the reasons:
First, the article mentioned "50 basis points" more times than before, and quoted the views of former Federal Reserve senior adviser English and Dallas Fed President Kaplan on a 50 basis point rate cut.
Second, the article says a very crucial sentence: "Powell may face internal opposition. In the past two years, no Fed official has voted against policy decisions." What will be opposed this time? If the interest rate is cut by 25 basis points, it can be accepted by all Fed officials, but some people prefer 50 basis points. But if the interest rate is cut by 50 basis points, there will be dissenting votes.
If this is just the author's analysis, then there is a high probability that the interest rate will be cut by 25 basis points - because the Fed has remained silent until now, and only a "25 basis point interest rate cut" can make the Fed silent. Revealing "a 25 basis point interest rate cut" at this moment is far from waiting until the last minute to announce it.
Because after the announcement at 2:00 a.m. Thursday, Powell will hold a press conference half an hour later, and he can say some "dovish" remarks to appease the market. If the "25 basis point rate cut" is revealed before the meeting, the market will usher in a long sell-off. Perhaps the Fed is still arguing with each other, and Powell himself is inclined to cut interest rates by 50 basis points, but from a political point of view, a decision-making error of 50 basis points may be more serious than a decision-making error of 25 basis points. Powell may wait until everyone is tired of arguing and build a reasonable consensus.
Next, let’s take a look at which 50x high-quality currencies are worth investing in for the long term and waiting for the start of the bull market!
PEPE
PEPE will make a comeback. From the perspective of price trend, Pepe (PEPE) has become the biggest beneficiary of the bullish headwind of Ethereum ETF. The leading meme, pepe coin, has no high transaction tax, which increases the transaction and liquidity of pepe coin.
The price has recovered into the symmetrical triangle and the bulls seem ready to initiate a bullish breakout. As long as the main force starts to pull, all major social networks are frogs.
SUI
Sui is one of the most popular copycats in the past year. Sui chain's game consoles started pre-sale this week, similar to Solana's mobile phone airdrop. And this week it can be clearly seen that funds began to enter the Sui ecosystem. The BLUB and LIQ on its chain rose very rapidly this week, creating a wealth-making effect on the Sui chain. Fundamentally speaking, whether it is trust institutions, game equipment pre-sales, or the proportion of market value, SUI's blue ocean map has begun to emerge, so this is also the benchmark that SUI has always focused on participating in.
FET
Technical analysis shows that the downward trend line has been broken and the neckline will soon be broken. Interest rates will be cut soon. The fundamentals, funding and environment are all right. The target is 10 US dollars. Seize the opportunity when the price is less than two US dollars now.
Mid-September has arrived, and I have already spent more than half of my money. I will spend all my money in the remaining time and leave no regrets for myself. Looking at the daily chart, all small coins have been adjusting at the bottom for a long time, and the BTC have rebounded first. When the interest rate meeting on the 18th is over, there will be a good round of market conditions. Even if there is a sharp drop, it is an excellent opportunity to enter the market. I believe that the market in late September and early October will be a surprise!
If you have been chasing ups and downs, often being trapped, and have no latest news in the crypto and no direction, please scan the QR code below. I will try my best to answer any questions you have recently. If you are confused about the future, I will share the strategy layout with the small circle! You are welcome to join us to grasp the next hot spot and maximize the return on investment together!
This is the end of the article. I will do a more detailed analysis in the communication group. If you want to join my circle, please contact me directly through the WeChat below!
