Matrixport: Federal Reserve Signals and Election Momentum May Create a Favorable Environment for Bitcoin

2024-08-27 15:24:37
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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.

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
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