Matrixport: Due to the influence of Federal Reserve signals, election momentum, and economic data, BTC is currently in a critical period
Matrixport released a chart stating that Federal Reserve Chairman Powell hinted at possible interest rate cuts, coupled with the positive momentum of the U.S. presidential election, which may create a favorable environment for Bitcoin. Unexpectedly, traders are cautious before next week's U.S. employment data is announced, hesitating whether to increase risk exposure. Although concerns about economic recession may trigger more monetary stimulus policies, historical data shows this is usually beneficial for Bitcoin; however, the next 2-3 weeks will be critical. Key events include the U.S. employment report, Harris and Trump's presidential debate, as well as FOMC interest rate decisions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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