🚀 Bitcoin Experiences Short-Term Correction Amid Market Uncertainty
#Bitcoin #MarketCorrection #BullMarket #Overbought #GreedFearIndex #Bearish #ISMManufacturing #Recession #FederalReserve #InterestRates #Stimulus #EconomicData #BTC
According to BlockBeats, Bitcoin experienced a decline on September 30, falling from above $65,000 to a minimum of around $63,200. A report from 10x Research attributes this drop to a typical bull market correction following an overbought situation.
Markus Thielen, founder of 10x Research, noted that last week's report indicated Bitcoin was overbought in the short term, as reflected by the rising greed and fear index. The current short-term reversal signal has turned bearish, suggesting a potential correction in the coming days. Thielen highlighted that ISM manufacturing new orders data show forward-looking indicators have fallen to near recession levels. This makes the upcoming data release highly uncertain; a reading below 48.0 could cause Bitcoin to fall further, while higher numbers might push Bitcoin up.
Despite the short-term bearish outlook, Thielen expressed optimism about the fourth quarter. This optimism is based on expectations that the Federal Reserve will cut interest rates by 50 basis points again and China's recently announced large-scale stimulus measures. The market may gain insights into the Fed's plans later today, as Fed Chairman Powell is scheduled to speak on economic issues at the National Association for Business Economics' annual meeting in Tennessee (1 a.m. tomorrow).
BlockBeats notes that the US September ISM Manufacturing PMI and August JOLTs job vacancies data will be released at 22:00 UTC+8 tomorrow.#Bitcoin #MarketCorrection #BullMarket #Overbought #GreedFearIndex #Bearish #ISMManufacturing #Recession #FederalReserve #InterestRates #Stimulus #EconomicData #BTC
🚀 Bullish Bitcoin Hopes Dented as China Eases Stimulus Plans
#Bitcoin #Crypto #China #FederalReserve #Stimulus #MarketSentiment #Investors #Solana #Ether #XRP #BNB #ShanghaiComposite #HangSengIndex #Economy #BTC
According to CoinDesk: Bitcoin's recent rally has been dampened by a lack of new stimulus measures from China, with Beijing’s latest announcements falling short of market expectations. As a result, BTC dropped by 1.5%, following a surge in the past few weeks that had been partly driven by hopes of long-term Chinese stimulus. Crypto traders are now shifting their focus to an upcoming Federal Reserve meeting for potential market direction.The market was further disappointed when the National Development and Reform Commission (NDRC), in a Tuesday briefing, provided no specific details on new measures to stimulate China's economy. This underwhelmed investors who had anticipated stronger post-holiday market support. Consequently, the Shanghai Composite jumped by 4% at the open but closed the day lower, while the Hang Seng Index fell nearly 7%, reversing previous gains.Bitcoin briefly touched $62,000 during late U.S. trading hours on Monday, recovering slightly to $62,700 in early Asian hours, erasing most of the gains from the past week. Major tokens, including Solana (SOL), Ether (ETH), XRP, and BNB, fell by as much as 4%, and the CoinDesk 20 Index (CD20), which tracks large-cap tokens, lost 2.18%.The lack of urgency and substantial stimulus from China comes amid concerns about conflicts in the Middle East, which also weighed on market sentiment. As a result, many investors opted to take profits after the recent rally.As China's NDRC Chairman Zheng Shanjie described the country's economy as “stable” with fundamentals unchanged, crypto traders are now turning their attention to the Federal Reserve's FOMC minutes and key economic figures from August, which are expected later this week and may provide further clues on BTC's next move.#Bitcoin #Crypto #China #FederalReserve #Stimulus #MarketSentiment #Investors #Solana #Ether #XRP #BNB #ShanghaiComposite #HangSengIndex #Economy #BTC
🚀 Citigroup Economists Predict Federal Reserve Rate Cuts Amid Global Economic Weakness
#Citigroup #FederalReserve #RateCuts #EconomicWeakness #Inflation #LaborMarket #CommodityPrices #InterestRates #Stimulus
According to Odaily, a team of economists led by Andrew Hollenhorst at Citigroup has projected that a relaxed labor market will alleviate inflationary pressures in the service sector, while global economic weakness is expected to suppress commodity prices. This economic environment is anticipated to prompt the Federal Reserve to adopt an aggressive approach, with expectations of a 25 basis point rate cut at each meeting until July next year. This would bring the federal funds rate down to a range between 3% and 3.25%.
This forecast is significantly lower than market expectations, which predict the federal funds rate to be around 4% by that time. The economists' analysis suggests that the combination of a softening labor market and subdued global conditions will create a conducive environment for the Federal Reserve to implement these rate cuts. The anticipated reduction in interest rates is seen as a response to the need for stimulating economic activity amid ongoing global uncertainties and inflationary challenges in the service sector.#Citigroup #FederalReserve #RateCuts #EconomicWeakness #Inflation #LaborMarket #CommodityPrices #InterestRates #Stimulus
🚀 BlackRock CEO Discusses Bitcoin Purchases With Sovereign Wealth Funds
#BlackRock #Bitcoin #SovereignWealthFunds #LarryFink #USFederalReserve #Inflation #Stimulus #Debt #Stagflation #BTC
According to Odaily, BlackRock CEO Larry Fink has disclosed that he has engaged in discussions with several sovereign wealth funds regarding the purchase of Bitcoin. However, he did not specify which sovereign wealth funds were involved. Fink noted that concerns over the U.S. Federal Reserve's handling of the dollar crisis and rising inflation have sparked increased interest in Bitcoin. In recent years, governments worldwide have ramped up spending and stimulus measures. Analysts suggest that the surge in U.S. inflation has forced the Federal Reserve to raise interest rates at an unprecedented pace, increasing debt interest payments and heightening fears of a 'death spiral.' Federal Reserve officials continue to grapple with the looming 'stagflation nightmare' scenario.#BlackRock #Bitcoin #SovereignWealthFunds #LarryFink #USFederalReserve #Inflation #Stimulus #Debt #Stagflation #BTC
🚀 U.S. Labor Market Weakens, Fed Expected to Cut Interest Rates
#USLaborMarket #LaborMarket #Fed #FederalReserve #InterestRates #RateCut #RateCuts #SeptemberMeeting #Inflation #InflationRisks #Unemployment #MonetaryPolicy #NeutralRate #Stimulus #EconomicPolicy
According to PANews, Mizuho Bank has indicated that the U.S. labor market is showing signs of weakening, as evidenced by the August non-farm employment report. Employment, working hours, and income growth have all returned to levels seen during the pandemic. Regardless of inflation trends, the Federal Reserve is almost certain to cut interest rates at its September meeting. A reduction of 25 basis points is nearly guaranteed, but if August inflation is weaker than expected, a 50 basis point cut is more likely.
The Federal Reserve's previous inflation forecasts have been contradicted by reality, and its unemployment rate predictions for 2026 face the risk of not being realized. The Fed was previously too pessimistic about inflation and overly optimistic about the labor market. It is anticipated that the Federal Reserve will initiate a sustained easing cycle, aiming to lower rates to what it considers a 'neutral level,' approximately 3% by March 2026. The new Federal Reserve Chair is likely to further enhance stimulus measures, potentially reducing rates to near 2%.
However, there is a risk that if inflation resurges, at least some of the stimulus measures will be withdrawn by 2027.#USLaborMarket #LaborMarket #Fed #FederalReserve #InterestRates #RateCut #RateCuts #SeptemberMeeting #Inflation #InflationRisks #Unemployment #MonetaryPolicy #NeutralRate #Stimulus #EconomicPolicy
🚀 Japan Approves Largest Post-Pandemic Spending Plan Amid Economic Concerns
#Japan #economicconcerns #spendingplan #pandemic #yen #governmentbonds #inflation #stimulus #price relief #fiscalhealth #votersatisfaction #SanaeTakaichi #cabinet #supplementarybudget #inflationtarget #JapanCabinet #parliamentaryapproval
According to BlockBeats, Japan's Prime Minister Sanae Takaichi's cabinet has approved the largest additional spending plan since the pandemic, aiming to alleviate voter dissatisfaction. This decision may unsettle investors closely monitoring Japan's fiscal health, as the yen has fallen to a 10-month low and long-term government bond yields have surged to record highs.
On Friday, Japan's Cabinet Office announced that the stimulus package includes 17.7 trillion yen (approximately 112 billion USD) in general account spending. This expenditure is likely to be provided through a supplementary budget, marking a 27% increase compared to the plan introduced by the previous administration a year ago. The overall package amounts to 21.3 trillion yen, with measures ranging from price relief to investment support in key sectors.
The substantial scale of price relief funds highlights Takaichi's determination to tackle ongoing inflation, which has heightened voter dissatisfaction and contributed to the downfall of her predecessor. Data released on Friday shows that Japan's key price index has remained at or above the central bank's 2% target for 43 consecutive months, setting the longest record since 1992.
The Japanese cabinet plans to approve the supplementary budget for this package by November 28, aiming for parliamentary approval by the end of the year.#Japan #economicconcerns #spendingplan #pandemic #yen #governmentbonds #inflation #stimulus #price relief #fiscalhealth #votersatisfaction #SanaeTakaichi #cabinet #supplementarybudget #inflationtarget #JapanCabinet #parliamentaryapproval
🚀 Ethereum's Potential to Outperform Nasdaq 100 in Coming Months
#Ethereum #Nasdaq100 #cryptocurrency #investment #marketprediction #quantitativeeasing #blockchain #stimulus #meanreversion #ETH
According to PANews, Garrett Jin, known as the '1011 Insider Whale,' recently shared insights on the X platform regarding the Ethereum (ETH) and Nasdaq 100 index ratio. Jin noted that the ratio has repeatedly hit a low near 0.11, suggesting that ETH is in a bottom range. He predicts that ETH has a higher chance of outperforming the Nasdaq 100 in the coming months, with a target ratio between 0.16 and 0.22, indicating a potential increase of 50% to 100%.
Given the strong correlation between Ethereum and the Nasdaq 100 index, significant deviations are unlikely to persist. Mean reversion is expected, especially in the context of broader policy developments such as the potential restart of quantitative easing in the U.S., direct cash stimulus to households, and U.S. Securities and Exchange Commission Chairman Paul Atkins accelerating the migration of U.S. stocks onto the Ethereum blockchain.#Ethereum #Nasdaq100 #cryptocurrency #investment #marketprediction #quantitativeeasing #blockchain #stimulus #meanreversion #ETH
🚀 Federal Reserve's Mester: Further Rate Cuts Unnecessary as Current Policy Is Neutral
#FederalReserve #LorettaMester #interestrates #monetarypolicy #economy #stimulus #labormarket #inflation
Federal Reserve official Loretta Mester stated that further interest rate cuts are not advisable, as the current monetary policy is already neutral. According to Jin10, Mester emphasized that the economy does not require additional stimulus at this time. She noted that risks are generally balanced and that further rate reductions would only be necessary if there is a deterioration in the labor market or a decline in inflation.#FederalReserve #LorettaMester #interestrates #monetarypolicy #economy #stimulus #labormarket #inflation
🚀 Thailand's Economic Growth Expected to Slow Post-Stimulus, Says Central Bank
#Thailand #EconomicGrowth #CentralBank #Stimulus #BankOfThailand #EconomicSlowdown #Sustainability #GlobalUncertainties #DomesticConstraints #EconomicStability
Thailand's central bank has projected a slowdown in the country's economic growth following the conclusion of current stimulus measures. According to Jin10, the Bank of Thailand anticipates that the withdrawal of these economic support initiatives will lead to a deceleration in economic activity. The central bank's assessment highlights concerns about the sustainability of growth without continued government intervention. This outlook comes as Thailand navigates the challenges of maintaining economic momentum amid global uncertainties and domestic constraints. The central bank's forecast underscores the importance of strategic planning to ensure long-term economic stability.#Thailand #EconomicGrowth #CentralBank #Stimulus #BankOfThailand #EconomicSlowdown #Sustainability #GlobalUncertainties #DomesticConstraints #EconomicStability