On September 24, Federal Reserve Chair Jerome Powell stated in Rhode Island that despite last week’s rate cut, current interest rates remain “moderately restrictive.” This implies that if labor market weakness continues, the Fed could further ease policy later this year. He warned that cutting rates too quickly could leave inflation stuck at 3%, while moving too slowly may worsen labor market weakness, highlighting the policy dilemma. Markets interpreted his remarks as “cautiously dovish,” pushing the U.S. dollar index lower and slightly lifting risk appetite.
In the crypto market, BTC is fluctuating near $112,000, with support at $111,000 and $108,000, and resistance at $119,000 and $120,000.
Bitunix Analyst Suggestion: BTC is still trading within a range in the short term. Traders should closely monitor labor and inflation data for shifts in expectations. While macro policy is tilting toward easing and sentiment is improving, a clear breakout trend requires stronger confirmation. Key levels to watch: holding above $108,000 for support, and a break above $118,000 could open upside potential toward $120,500.
