Matrixport: Federal Reserve Signals and Election Momentum May Create a Favorable Environment for Bitcoin
ChainCatcher message, Matrixport stated in its latest report that Federal Reserve Chairman Powell hinted at a possible interest rate cut, coupled with the positive momentum of the U.S. presidential election, which may create a favorable environment for Bitcoin.
Surprisingly, ahead of next week's U.S. employment data release, traders appear cautious, hesitating to increase risk exposure. While concerns about an economic recession may trigger more monetary stimulus policies, historical data shows that this is usually beneficial for Bitcoin; however, the next 2-3 weeks will be a critical period. Key events include the U.S. employment report, the presidential debate between Harris and Trump, and the FOMC interest rate decision.
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