ChainCatcher news, according to Jinshi reports, the Federal Reserve may encounter more complexities in the October employment report to be released before the upcoming meeting on November 6-7. EY senior economist Lydia Boussour stated, "Any significant wage growth slowdown and a sharp rise in the unemployment rate could lead data-dependent Federal Reserve policymakers to lean towards another 50 basis point rate cut." However, Neil Dutta, head of economic research at Renaissance Macro Research, expects two significant 50 basis point cuts in November and December due to the complexities brought about by strikes and hurricane damage.

ChainCatcher news, Bitcoin traders expect that as the sentiment around the broader cryptocurrency industry fluctuates ahead of the U.S. elections, and the selling pressure from key wallets subsides, the price of Bitcoin will rise to reach $70,000 in the near term."The rebound in Bitcoin's price indicates that the market is more optimistic about the recent macro environment," said Lucy Hu, a senior analyst at Metalpha, on Wednesday. "The market is encouraged by Trump's vice presidential pick, which suggests a more favorable government and policy stance towards cryptocurrencies.""Bitcoin may hover around the 120-day moving average, with the potential to rise to $68,000 or even $70,000, but we need to continue closely monitoring the Federal Reserve's policies and the impact of Mt. Gox payouts," Hu added.

ChainCatcher news, the Federal Reserve's policy statement indicates "slight further progress" towards the 2% inflation target (previously stated as "lack of progress" in the May 1 statement); it is inappropriate to cut interest rates before having greater confidence in the sustainability of inflation moving towards 2%; the economy continues to expand steadily, job growth remains strong, and the unemployment rate stays low; it will continue to reduce its holdings of government bonds and mortgage-backed securities (MBS).

ChainCatcher news, 10x Research published that traders are complaining that despite Bitcoin's price being only 7% away from its all-time high, there has been no significant movement. Many Bitcoins are being withdrawn from trading platforms, while stablecoin impulse is sending out a warning signal.The trading volume in the cryptocurrency market has dropped to $50 billion, and the financing rates are only slightly positive. There is no doubt that the rates are very low. The Federal Reserve's policies and inflation data are seen as two key variables that could drive Bitcoin to a new all-time high. On June 5, the Bank of Canada may initiate a global rate-cutting cycle, providing a blueprint for the Federal Reserve, while the U.S. inflation data on June 12 needs to show lower figures (3.3%) to drive Bitcoin prices up.The sharp decline in Bitcoin balances on trading platforms indicates that whales are transferring Bitcoin off exchanges in anticipation of price increases. In the past month, 88,000 Bitcoins have been moved off trading platforms, leaving a remaining supply of 2.5 million Bitcoins, the lowest level since March 2018. The outflow of funds from trading platforms began on May 15, coinciding with the 45 days after the quarterly 13F filing requirements for U.S. registered investors managing over $100 million.