$94,000 to $91,000: Bitcoin's "roller coaster" overnight, just because of Powell's words $BTC

The Federal Reserve lowered interest rates again early this morning, by 0.25%, bringing the rate to around 3.5%-3.75%. This is their third rate cut this year, which is about what the market expected.

However, after looking at the dot plot they released, I feel that the pace of rate cuts may slow down next year, with current predictions suggesting only one cut. In the following two years, 2026 and 2027, only one cut is also planned for each year. It is evident that there is no consensus within the Federal Reserve on what the next step should be—some are more worried about inflation not being contained, while others are more concerned about whether the job market will be too weak.

Powell mentioned in his speech that the job market is indeed gradually cooling down, job demand is not as strong, but inflation levels are still a bit high. This also makes subsequent policies rely more on data, especially the performance of the job market. Analysts from Goldman Sachs also believe that unless employment data shows a clear weakening, the Federal Reserve may not easily cut rates again.

After the news came out, Bitcoin once surged to $94,000 but could not maintain that level and quickly fell back below $92,000. The market's reaction indicates that expectations for future rate cuts are no longer as optimistic. #美联储降息

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