Heading towards a bull market? China's large-scale easing helps boost bitcoin's outlook to $70,000.
1. The Fed's rate cut combined with China's central bank's large-scale stimulus has boosted global liquidity, triggering market frenzy this week. 2. After two months of weakness, the price of bitcoin has risen by 10% in the past month, boosting investors' confidence.
After the surprise rate cut, Federal Reserve officials are pushing for a "steady loosening" of the monetary floodgates.
①Mussalem told the media that the US economy may react "very strongly" to overly loose financial conditions, which will stimulate demand and extend the time needed to bring inflation back to 2%; ② He acknowledged that the US labor market has cooled down in recent months, but given the low layoff rate and overall strong economy, he remains optimistic about the prospects.
Latest cryptos news | Optimism spreads! Bitcoin rises above the 0.065 million mark; Bloomberg: Bitcoin expected to achieve one of the largest September gains ever.
Donald Trump Jr.: willing to spend a lot of money to have Harris explain encryption and blockchain technology, but cannot use a teleprompter; the correlation between bitcoin and global liquidity is stronger than that of gold and stocks.
Global interest rate cuts catalyze, bitcoin moves towards its best September ever.
This month, bitcoin has risen by more than 10%. Analysis believes that the failure to "decisively" break through $65,000 may indicate that bitcoin will enter a weak period.
The Crypto Market and Bitcoin Break the Months-long Downtrend
About the heavyweight interest rate pricing benchmark! The "third figure" of the Federal Reserve announced the establishment of a new institution.
①New York Fed President Williams announced on Thursday that the New York Fed will establish an institutions composed of private market participants to oversee the usage of interest rate benchmarks or reference rates in the entire financial market; ②This institution will be named the Reference Rate Usage Committee (RRUC), with the first meeting scheduled for October 9th.