HashKey Jeffrey: The darkness before dawn has passed, and interest rate cuts lead the crypto market into a new upward cycle
ChainCatcher news, the Federal Reserve announced after the FOMC meeting that the target range for the federal funds rate has been lowered from 5.25% to 5.50% to 4.75% to 5.0%, a decrease of 50 basis points.In response, HashKey Group Chief Analyst Jeffrey Ding stated: The darkness before dawn has passed, and a new wave of market momentum has begun. The Federal Reserve's 50 basis point rate cut signifies its clear concerns about the current economic environment, necessitating a more substantial initiation of the rate-cutting cycle. Recently, the global economy has faced liquidity challenges, and this rate cut decision has injected new vitality into the global financial markets.Bitcoin, as the "digital gold" of the new era, has performed strongly against this backdrop, briefly breaking above $62,000. However, it is not just Bitcoin that benefits; the entire cryptocurrency market is expected to experience a new wave of momentum under the loose monetary policy. It is important to note that, unlike traditional markets, Bitcoin's performance is more influenced by the liquidity of the dollar rather than changes in the U.S. economic outlook. This means that in the future loose monetary environment, Bitcoin may continue to be the preferred asset for investors seeking to hedge against inflation and seek safe havens.As the rate-cutting cycle continues, the cryptocurrency market may enter a longer period of upward momentum. Market volatility still exists, but this round of cryptocurrency trends may attract more funds and innovation into the field, pushing the entire crypto ecosystem into a new stage of development.
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