Summary
- Powell's cautious stance on rate cuts suggests the possibility of further adjustments in the risk asset market.
- Bitcoin fell to the $98,600 level after Powell's remarks and then slightly rebounded.
- Cryptocurrency traders predict that another upward cycle is needed before a major adjustment.
Despite the US Federal Reserve announcing a rate cut, Powell stated that he would be cautious about further rate cuts next year, leading to analysis that additional adjustments in risk asset markets such as stocks and cryptocurrencies may occur.
According to Cointelegraph on the 19th (local time), Powell said, "We have reduced the policy rate by 1%p from the peak, and we will carefully decide on further adjustments to the policy rate from now on."
Bitcoin fell to the $98,600 level following Powell's speech and has now slightly rebounded to the $102,000 level.
Renowned cryptocurrency trader Mark Cullen predicted, "The Bitcoin pullback due to the US Fed's moves may not have come yet. It is important for another upward cycle to occur before a major adjustment, and if not, the January major correction scenario will unfold."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
